In view of the end of daylight saving time in Brazil and the beginning of daylight saving time in the United States, we hereby inform you that, as of March 15, 2010, the new trading hours (Brasília time) for the BM&FBOVESPA markets—BOVESPA and BM&F segments—will be as follows:
BOVESPA Segment
BM&F Segment
In order for you to better visualize the trading hours for the markets of the BM&F segment, follow the full list of trading hours.
- 9:45 a.m. – 10:00 a.m. – pre-opening fixing – input of orders for the calculation of the theoretical opening price;
- 10:00 a.m. – 5:00 p.m. – continuous trading session – for all listed securities;
- 4:55 p.m. – 5:00 p.m. – closing call – for all the shares composing BM&FBOVESPA indexes and for the options series of underlying shares which comprise the IBrX-100 theoretical portfolio.
- 5:30 p.m. – 5:45 p.m. – pre-opening phase;
- 5:45 p.m. – 7:00 p.m. – trading phase.
Blocking/Exercise on the Stock Options Market
a) Days prior to expiration:
- 10:00 a.m. – 4:00 p.m. – exercise of option holders’ positions.
b) Expiration date:
- 10:00 a.m. – 11:30 a.m. – transactions with expiring options series that close an outstanding position, that is, options holders will be permitted to carry out sale transactions and option writers will be permitted to carry out purchase transactions for blocking purposes;
- 11:30 a.m. – 1:00 p.m. – only exercise of option holders´ positions for expiring options series.
Blocking/Exercise on the Index Options Market:
a) Days prior to expiration:
- 10:00 a.m. – 1:00 p.m. – exercise of option holders’ positions.
b) Expiration date:
- 10:00 a.m. – 1:00 p.m. – transactions with expiring options series that close an outstanding position, that is, options holders will be permitted to carry out sale transactions and option writers will be permitted to carry out purchase transactions for blocking purposes;
- after 5:00 p.m. – automatic exercise of option holders´ positions for expiring options whenever:
(i) in the case of a call option: the settlement index is greater than the strike price; and
(ii) in the case of a put option: the settlement index is less than the strike price.
- until 7:00 p.m.
- 9:45 a.m. – 10:00 a.m. – pre-opening fixing;
- 10:00 a.m. – 5:00 p.m. – continuous trading session;
- 4:55 p.m. – 5:00 p.m. – closing call – for all the issuers whose shares are traded in the spot market during the continuous trading session.”
