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Daylight Saving Time: BOVESPA's Trading Hours To Change As Of November 6

Date 27/10/2006

BOVESPA´s Trading Hours will change as of November 6, 2006 due to the Brazilian Daylight Saving Time.
  • The Mega Bolsa Trading System will operate on a continuous session from 11:00 a.m. to 6:00 p.m. – according to the following schedule:
    • From 10:45 a.m. to 11:00 a.m. - pre-opening fixing - input of orders for the calculation of the theoretical opening price;
    • From 5:55 p.m. to 6:00 p.m. - closing call – for all the stocks traded on the cash market that comprise the portfolio of any index BOVESPA and for the options series with higher liquidity.

  • The After-Market trading session will work from 6:45 p.m. to 7:30 p.m., whereas the After Market´s pre-opening (period for cancellation of bids and asks introduced in the regular trading session) will be from 6:30 p.m. to 6:45 p.m.
  • The schedule for Blocking and Exercise of the Options Market will also be changed:
    • Equity Options - Blocking/Exercise:
    • On pre-expiration dates - from 11:00 a.m. to 5:00 p.m. - blocking and exercise.
    • On expiration dates - from 11:00 a.m. to 12:00 p.m. - only blocking / from 12:00 p.m. to 02:00 p.m. - exercise and blocking.
    • Index Options - Blocking/Exercise:
    • On pre-expiration dates - from 11:00 a.m. to 02:00 p.m. - blocking and exercise.
    • On expiration dates - from 11:00 a.m. to 02:00 p.m. - only blocking / from 02:00 p.m. to 6:00 p.m. - exercise and blocking

Note: The Period for correction of transactions will be up to 7:30 p.m.

Brazil time will be on GMT –04:00 during the Daylight Saving Time.