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BM&FBOVESPA hereby announces the second cycle of the Market Maker Program for the Soybean (SJC) and Light Sweet Crude Oil (WTI) futures contracts. Itaú Unibanco S.A. has been chosen again as the institution to carry out this mandatory daily activity in both contracts as of December 14.
The Cash-Settled Soybean Futures Contract (SJC) has as its underlying the settlement price of the Mini-Sized Soybean Futures Contract traded at the CME Group’s Chicago Board of Trade (CBOT). The price quotations for this contract are in United States Dollars per 60-net kilogram bag, at the equivalent of 450 bags or 27 metric tons. The period for Market Maker activity runs until December 2017, with an 80% daily presence in trading of the first and second contract months, for a minimum quantity of 50 contracts, respecting a maximum bid-ask spread of USD 0.20.
The Mini Crude Oil Futures Contract (WTI) has as its underlying the settlement price of CME Group’s NYMEX Light Sweet Crude Oil (WTI) futures contract, traded at the New York Mercantile Exchange (Nymex), which is also owned by CME Group. The size of each futures contract is equivalent to 10% of the original contract, representing 100 barrels of crude oil and quoted in United States Dollars. The period for Market Maker activity runs until December 2017, with an 80% daily presence in trading of the first and second contract months, for a minimum quantity of 50 contracts, respecting a maximum bid-ask spread of USD 0.80.
Both contracts are listed on the BM&FBOVESPA through a cross-listing agreement with CME Group and reference the settlement prices of the original contracts traded in the United States.
The BM&FBOVESPA Market Maker Program is an important initiative that seeks to guarantee reference prices for the products listed on the Exchange and thus stimulate liquidity in the products portfolio. As well as the soybean and crude oil contracts, commodity derivatives that currently have a Market Maker are the Cash-Settled Live Cattle (BGI) and Cash-Settled Corn (CCM) futures contracts. These contracts are in the second cycle of the Market Maker program too.
Find out more about the Market Maker program
