BM&FBOVESPA announces the start of the process to select up to three market makers for options on the stock of BM&FBOVESPA S.A (BVMF3) and of Usinas Siderúrgicas de Minas Gerais S.A. – Usiminas (USIM5). The institutions that wish to participate, including foreign residents, have until October 05, 2012 to deliver proposals, with the names of those pre-selected to be made public on October 15, 2012 and of the winners on November 16, 2012.
Winners for each object of the bidding process shall be those offering the lowest maximum volatility spreads, defined as the percentage resulting from the ratio between the implied volatility of the bid price and the implied volatility of the offer price for each option.
The purpose of the BM&FBOVESPA market maker program is to encourage trading in options, increasing the liquidity in underlying assets of the BOVESPA segment other than Petrobras and Vale.
