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- Securities lending reaches a record financial volume
- Exchange Trade Funds (ETFs) total trades increase from 17.9 to 25.6 thousands
- Interest Rate Future totaled 27.9 million trades contracts in November, compared to 17 million in October
Bovespa Segment
In November 2010, equity markets (Bovespa segment) traded BRL 126.3 billion, in 9,260,660 trades, with daily averages of BRL 6.31 billion and 463,033 trades, in comparison to October when total volume reached BRL 155.5 billion, in 10,220,821 trades, with daily averages of BRL 7.77 billion and 511,041 trades.
Equities
The most traded stocks in November were: Vale PNA with BRL 12.86 billion; Petrobras PN, with BRL 12.57 billion; OGX Petróleo ON, with BRL 5.61 billion; Itauunibanco PN, with BRL 4.75 billion; and Bradesco PN with BRL 3.56 billion.
Indexes
The Ibovespa ended November at 67,705 points, down 4.19% from the previous month.
The best performing stocks were: Pão de Açúcar PNA (+6.61%); Cesp PNB (+6.47%); Copel PNB (+6.30%); Eletropaulo PNB (4.31%); and Braskem PNA (+4.30%). The worst performing stocks were: Gafisa ON (-15.39%); Marfrig ON (-15.15%); Fibria ON (-12.71%); Usiminas ON (-12.34%); and Brookfield ON (12.10%).
All of the other Bovespa segment stock-exchange indexes ended November as follows: IBrX-50 (-3.68% at 9,287 points); IBrX-100 (-3.26% at 21,494 points); ISE (-2.60% at 2,016 points); Itel (-3.41% at 1,392 points); IEE (+0.77% at 26,677 points); INDX (-4.09% at 10,497 points); IVBX-2 (-2.21% at 6,010 points); IGC (-2.13% at 7,550 points); Itag (-2.81% at 9,743 points); Small Cap (-0.99% at 1,412 points); MidLarge Cap (-3.22% at 946 points); Iconsumo (-1.03% at 1,628 points); Imobiliário (-4.11% at 1,046 points); and Ifinanceiro (-3.61% at 3,748 points).
Market Value
Market capitalization of the 379 companies listed on the BM&FBOVESPA in November was BRL 2.49 trillion, compared to BRL 2.55 trillion for the 379 companies listed in October.
Special Corporate Governance Levels
At the end of November, the 164 companies that are part of the BM&FBOVESPA’s special corporate governance levels represented 66.96% of the market capitalization, 77.68% of the financial volume, and 80.89% of the trades in the spot market. At the end of October, there were 163 companies, representing 66.86% of the market capitalization, 73.63% of the financial volume, and 78.44% of the spot market trades.
Market Participation
The spot market accounted for 93.4% of total trading volume in November, followed by the options market, with 4.1%, and by the forward market, with 2.5%. The after-market traded BRL 1.0 billion with 57,047 trades, compared to BRL 1.2 billion and 69,794 trades in the previous month.
Investor Participation
In November, foreign investors were responsible for 34.03% of the total volume, compared to 32.88% in October. Institutional investors came next, with 32.56%, compared to 32.49%; individual investors had 23.89%, compared to 22.52%; financial institutions, with 7.70%, compared to 8.92%; companies, with 1.75%, compared to 3.08%; and other types of investors with 0.06%, compared to 0.10%.
Foreign Investment
The net flow of foreign investment into the Brazilian stock market in 2010 as to November 30 reached BRL 44,718,932,248.55, which is the combined result of the amount of BRL 38,426,656,251.55 in acquisitions carried out by foreign investors in stock offerings (including BRL 20.72 billion registered in Brazil) and the positive balance of BRL 6,292,275,997.0 in direct trading at BM&FBOVESPA.
In November, the financial volume traded by foreign investors in the stock market was a positive BRL 1,595,724,556.0, which is the net balance between stock sales of BRL 42,069,321,579.0 and stock purchases of BRL 43,665,046,135.0.
The foreign investor participation in stock offerings, including IPOs, represented 26.2% of the total BRL 146,435,088,129.30 in transactions related to the publication of the closing announcement dates ending on December 2, 2010, pursuant to information available on the Exchange’s website, under the media section.
Investment Clubs
BM&FBOVESPA ended November with 3,069 investment clubs and 35 new registrations. Total liquid assets reached BRL 11.41 billion and the number of participants reached 135,169, according to the latest available data for October.
Individual Investors
BM&FBOVESPA ended November with 614,638 individual investor stock exchange accounts in custody, compared to 615,694 accounts in October.
Home Broker
Average daily trading via Home Broker hit 250,648 trades in November, compared to 275,541 in October. The total number of trades reached 5,012,952, compared to 5,510,825 in the previous month. The volume in Home Broker trades totaled BRL 40.03 billion, compared to BRL 46.08 billion in October. Home Broker’s participation in the stock market’s total volume in November was 27.07%, compared to 26.96% in October. In November, the number of brokerage firms offering Home Broker was 65, from 64 in October.
Securities Lending
In November, the total number of securities lending transactions reached 83,295, with a record financial volume of BRL 45.68 billion, compared to 79,348 transactions and BRL 44.88 billion in October.
Fixed Income
In November, the trading volume for the secondary market, counting both the Bovespa Fix and the Soma Fix, totaled BRL 24.79 million, compared to BRL 16.53 million in October. Of this total, debentures accounted for BRL 6 million and Mortgage Backed Securities (CRI) accounted for BRL 18.79 million.
ETFs
The financial volume registered in November by the seven BM&FBOVESPA Exchange-Traded Funds (ETFs) reached BRL 662.511 million, in contrast to BRL 654.85 million in October. The ETFs BRAX11, CSMO11, MOBI11, BOVA11, SMAL11, MILA11 and PIBB11 registered 25,633 trades. In the previous month, the number of trades was 17,920. In November the ETF with the highest financial volume was BOVA11 with BRL 572.82 million, in comparison to its total financial volume of BRL 558.24 million in October.BM&F Segment
Derivatives markets in the BM&F segment (including financial and commodities derivatives) totaled 54,751,596 contracts and BRL 3.56 trillion in volume in November, compared to 42,754,273 contracts and BRL 2.97 trillion in October. The daily average of contracts traded in the derivatives markets in November was 2,737,580 contracts, in contrast to 2,137,714 in October. Open interest contracts ended the last trading day of November with 41,475,665 positions, compared to 38,018,126 in October.
Financial Derivatives
In November, interest rate futures (ID) traded 27,919,515 contracts, in contrast to 17,014,100 in October. The US dollar futures ended the month of November with 6,086,055 contracts, compared to 6,975,505 in the previous month. The Ibovespa futures traded 1,416,175 contracts, compared to 1,567,505 in October. The Euro futures contract (EUR) registered 55,710 contracts, in contrast to 30,510 contracts in October.
Agribusiness Derivatives
In November, the BM&FBOVESPA agribusiness derivatives market (including futures and options) totaled 309,570 contracts traded, compared to 353,731 in October. Agribusiness markets totaled 130,160 open interest contracts, in contrast to 142,252 in the previous month.
Live cattle futures and options totaled 187,878 contracts traded in November, compared to 228,082 in October. Arabica coffee ended November with 73,108 contracts, compared to 59,106 in October. Soybeans totaled 13,608 contracts, compared to 15,704 in October, and cash-settled corn futures and options totaled 31,552 contracts traded, compared to 46,831 in October. Hydrous ethanol futures totaled 3,424 contracts, compared to 4,008 in October.
Mini Contracts
The derivatives market for mini contracts traded 1,516,088 contracts in November, compared to 2,001,831 in October. Of this total, the futures market for Ibovespa mini contracts traded 1,340,112, compared to 1,770,782 contracts in the previous month. Mini U.S. dollar futures traded 174,281 contracts, compared to 229,236 in October. Mini futures contracts ended November with 28,791 open interest contracts, compared to 21,187 in the previous month
Spot Gold
The spot gold market (250 grams) traded, in November, 1,125 contracts, compared to 1,362 contracts in October. Spot gold market volume totaled BRL 24.05 million, compared to BRL 25.94 million in the previous month.
Investor Participation
In November, financial institutions led derivatives trading (BM&F segment), accounting for 39.17% of contracts traded, compared to 40.46% in the previous month. Institutional investors were responsible for 33.59%, compared to 31.29%; foreign investors for 21.62%, compared to 22.12%; individuals for 3.86%, compared to 4.40%; and companies for 1.764%, versus 1.74%.
Volumes and trades by Direct Market Access (DMA)
BM&F Segment
In November, BM&F* market segment transactions carried out through order routing via Direct Market Access (DMA) registered 21,516,858 contracts traded 1,957,807 trades. In October, the volume reached 17,469,654 contracts traded and 2,355,643 trades.
The volumes registered by each access modality in the BM&F segment were as follows:- Traditional DMA – 11,017,231 contracts traded, in 765,071 trades, in comparison to 6,994,963 contracts and 737,728 trades in October;
- Via DMA provider (including orders routed via the Globex System) – 7,286,747 contracts traded, in 275,751 trades, compared to 6,411,890 contracts and 355,115 trades in October;
- DMA via co-location – 3,213,153 contracts traded, in 916,985 trades, compared to 4,062,828 contracts and 1,262,800 trades in October.
In November, transactions carried out by foreign investors presented by CME to BVMF (who use the Globex-GTS order routing system or access BVMF markets via co-location) totaled 2,386,493 contracts traded, in 652,444 trades, compared to 4,062,828 contracts and 1,262,800 trades in October.
Bovespa Segment
In November, BOVESPA* market segment transactions carried out through order routing via Direct Market Access (DMA) registered a financial volume of BRL 92,488,376,000.00 and 9,069,486 trades. In the previous month the figures were BRL 106,316,674,000.00 and 9,853,783 respectively.
Trading volumes per type of DMA in the Bovespa segment:
Traditional DMA – Volume of BRL 54,845,661.00.00 and 5,830,754 trades;
DMA via co-location – Volume of BRL 785,595,000.00 and 97,144 trades.
* Direct access to the BM&FBOVESPA market segments is carried out through DMA models 1, 2, 3 and 4. In model 1 or traditional DMA, the client accesses the GTSor Mega Bolsa through technological intermediation of a brokerage house. In model 2 or via DMA provider, the client does not use the technological intermediation of a brokerage house, but rather connects to the system through an authorized access provider. DMA via order routing with CME Globex is also a form of DMA model 2. In model 3, the client connects to the system through a direct connection. In model 4 or via co-location, the client installs its own computer within the Exchange’s facilities.
Notes:The volumes registered by access modality include both buy and sell sides of a trade. The volumes by access modality for both the BM&F and the Bovespa market segments have been reported in a consolidated manner in the BM&FBOVESPA statements since May 2009.
