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CME Group launched today (22nd October) the U.S. Dollar-Denominated Ibovespa Futures a cross listing product in partnership with BM&FBOVESPA.
The contract, which is listed at CME and cleared through CME Clearing, will be traded on the CME Globex electronic trading platform offering:
- Benchmark exposure to the Brazil with a single trade
- USD trading and settlement
- Ease of access through existing futures account and clearing relationships
- Spreading opportunities with S&P 500 futures and other equity index contracts
- Enhanced ability to manage global equity exposure from one marketplace
About the Underlying Index
The Bovespa Index, or Ibovespa, is a leading indicator of the Brazilian stock market’s average performance, and comprises nearly 70 stocks traded on the Sao Paulo Stocks, Mercantile & Futures Exchange. Revised quarterly, its theoretical portfolio is composed of stocks that:
- Account for 80% of the volume traded in the last 12 months
- Were traded on at least 80% of the trading days; on average
- Collectively, represent 70% of all the stock value traded
