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BM&FBOVESPA announced today the winning institutions in the competitive bidding process to select market makers for BM&FBOVESPA S.A. (BVMF3) and Usinas Siderúrgicas de Minas Gerais S.A. (USIM5) equity options. The mandatory activity as market maker will have a 12 months timeframe, as of December 13, 2012.
Citigroup Global Markets Limited, Citadel Securities LCC and Morgan Stanley Uruguay Ltda. will be market makers for BM&FBOVESPA S.A. (BVMF3) equity options, complying with a maximum volatility spread of 0.1%.
In the case of the Usiminas (USIM5) equity options, the selected institutions were Credit Suisse Internacional, Citadel Securities LCC and Optiver V.O.F., which will comply with a maximum volatility spread of 0.1%
The selected institutions presented the lowest maximum volatility spreads, which are defined as the percentage calculated on the basis of the ratio between the implied volatilities of the bid and offer prices for each option.
In this manner BM&FBOVESPA is continuing its program for market makers in BVMF3 and USIM5 equity options. The BM&FBOVESPA market maker program seeks to encourage trading in options, raising the liquidity of underlying assets in the BOVESPA segment other than Petrobras and Vale.
