• Record average daily financial volume and record average daily trading volume in the BOVESPA segment.
• Agribusiness securities registered with BM&FBOVESPA total BRL 27.08 billion, from BRL 25.49 billion the previous month
BOVESPA Segment
In September 2012, the equities market’s (BOVESPA segment) financial volume totaled BRL 160.43 billion in 16,915,818 trades, with record daily averages of BRL 8.44 billion and 890,306 trades. The previous records were BRL 8.28 billion in February 2012 and 889,633 trades in May 2012.
In August, financial volume totaled BRL 164.89 billion, the total number of trades 18,259,374, the daily average financial volume BRL 7.16 billion and daily average number of trades 793,886.
Equities
The most traded stocks in September were: Vale PNA, with BRL 15.32 billion; PETROBRAS PN with BRL 9.58 billion; ITAUUNIBANCO PN, with BRL 6.84; VALE ON, with BRL 4.23 billion; and BRADESCO PN, with BRL 4.21 billion.
Indexes
The Ibovespa ended September at 59,175 points, up 4.20% from the previous month.
The best performing stocks were: B2W VAREJO ON (+33.63%), USIMINAS PNA (+24.17%), USIMINAS ON (+22.57%), GOL PN (+19.28%) and SUZANO PAPEL PNA (+18.44%). The biggest losses were: CESP PNB (-31.16%), CEMIG PN (-29.06%), ROSSI RESID ON (-17.27%), TRANS. PAULISTA PN (-16.45%) and CIELO ON (-14.03%).
All of the other BOVESPA segment stock-exchange indexes ended September as follows:
BDRX (2.74% at 1,560 points); IBRA (2.67% at 1,950 points); IBXL (3.14% at 8,667 points); IBXX (2.79% at 20,965 points); ICO2 (0.73% at 1,086 points); ICON (5.42% at 2,151 points); IDIV (0.66% at 3,223 points); IEEX (-8.27% at 30,091 points); IFIX (1.76% at 1,532 points); IFNC (-0.44% at 3,652 points); IGCT (1.71% at 2,020 points); IGCX (2.30% at 7,413 points); IGNM (3.56% at 1,598 points); IMAT (10.97% at 1,747 points); IMOB (5.95% at 925 points); INDX (6.49% at 11,257 points); ISEE (1.22% at 2,271 points); ITAG (1.99% at 9,736 points); IVBX (1.31% at 6,625 points); MLCX (2.63% at 932 points); SMLL (2.92% at 1,467 points); and UTIL (-11.56% at 2,821 points).
Market Value
Market capitalization of the 367 companies listed on the BM&FBOVESPA in September was BRL 2.41 trillion, compared to BRL 2.36 trillion for the 368 companies listed in August.
Special Corporate Governance Levels
At the end of September, the 179 companies that are part of the BM&FBOVESPA’s special corporate governance levels represented 65.32% of the market capitalization, 83.32% of the financial volume, and 85.74% of the trades in the spot market. At the end of August, there were 181 companies representing 65.56% of the market capitalization, 77.52% of the financial volume, and 85.76% of the spot market trades.
Payouts to Shareholders
In September of 2012, the companies traded on BM&FBOVESPA paid shareholders BRL 1.50 billion, of which BRL 856.29 million in dividends and BRL 345.49 million in interest on shareholders’ equity. In August the payout totaled BRL 2.74 billion, of which BRL 809.11 million in interest on shareholders’ equity and BRL 1.25 billion in dividends.
Market Participation
The spot market accounted for 95.2% of total financial volume in September, followed by the options market, with 3.6%, and by the forward market, with 1.2%. The After Market traded BRL 750.92 million with 52,243 trades, compared to BRL 755.71 million and 58,342 trades in the previous month.
Investor Participation
In September, foreign investors were responsible for 40.53% of the total volume, compared to 40.02% in August. Institutional investors came next, with 30.65% from 32.34%; individual investors had 16.99%, compared to 18.85%; financial institutions, with 7.46%, compared to 7.83%; and companies, with 4.34%, compared to 0.94%.
Foreign Investment
Over January to September the financial volume traded by foreign investors in the stock market was a positive BRL 3.16 billion, from BRL 4.36 billion in stock offerings (BRL 4.16 billion of which registered in Brazil) and a negative BRL 1.20 billion on the BM&FBOVESPA secondary market.
In September, the financial volume traded by foreign investors in the stock market was a negative BRL 4.17 billion, which is the net balance between stock sales of BRL 67.06 billion and stock purchases of BRL 62.89 billion.
Foreign investor participation in stock offerings, including IPOs, represented 51.2% of the total BRL 8.51 billion in transactions related to the publication of the closing announcement dates ending on October 02, 2012, pursuant to information available on the Exchange’s website, under the media section.
Individual Investors
BM&FBOVESPA ended September with 568,900 individual investor stock exchange accounts in custody, compared to 573,641 accounts in August.
ETFs
The financial volume registered in September by the 14 BM&FBOVESPA Exchange-Traded Funds (ETFs) reached BRL 2 billion in 97,083 trades, from BRL 2.54 billion and 103,649 the previous month. The BOVA11 ETF had a financial volume of BRL 1.86 billion and 89,819 trades from BRL 2.28 billion and 87.168 the previous month.
Securities Lending
In September, the total number of securities lending transactions reached 97,899, compared to 113,502 in August. Financial volume was BRL 59.52 billion in September from BRL 67.34 billion the previous month.
Investment Clubs
BM&FBOVESPA ended September with 2,480 investment clubs and 42 new registrations. Total liquid assets reached BRL 8.61 billion and the number of participants reached 91,531, according to the latest available data.
Corporate Securities
In September, the trading volume for the secondary market for corporate securities, counting both the BOVESPA FIX and the SOMA FIX, totaled BRL 30.43 million, compared to BRL 76.78 million in August. Of this total, debentures accounted for BRL 5.31 million and Mortgage Backed Securities (CRI) accounted for BRL 25.12 million.
Real Estate Funds
Real Estate Funds (FIIs) turned over BRL 249.60 million in 37,171 transactions in September, against BRL 293.65 million and 38,469 transactions in August. There were 83 of these funds registered at the end of the month for trading in the exchange and OTC markets of BM&FBOVESPA.
BM&F Segment
Derivatives markets in the BM&F segment (including financial and commodities derivatives) totaled 49,782,932 contracts and BRL 3.75 trillion in volume in September, compared to 60,486,696 contracts and BRL 4.06 trillion in August. Open interest contracts ended the last trading day of September 2012 with 45,847,287 positions, compared to 39,785,832 in August.
Financial Derivatives
In September, interest rate futures (ID) traded 27,200,748 contracts, in contrast to 28,708,180 in August. US Dollar futures ended the month of September with 5,790,552 contracts, compared to 6,109,886 in the previous month. Ibovespa futures traded 1,708,490 contracts, compared to 2,180,924 in August.
Mini Contracts
The derivatives market for mini contracts traded 3,174,548 contracts in September, compared to 4,278,488 in August. Of this total, the futures market for Ibovespa mini contracts traded 3,054,964, compared to 4,122,221 contracts in the previous month. Mini US Dollar futures traded 117,532 contracts, compared to 152,896 in August. Mini futures contracts ended September with 38,057 open interest contracts, compared to 27,146 in the previous month
Agribusiness Derivatives
In September, the BM&FBOVESPA agribusiness derivatives market (including futures and options) totaled 205,109 contracts traded, compared to 234,674 in August. Agribusiness markets totaled 136,767 open interest contracts, in contrast to 149,197 in the previous month.
Live cattle futures and options totaled 119,094 contracts traded in September, compared to 109,384 in August. Corn futures and options totaled 61,895 contracts traded, compared to 90,496 in August. Arabica coffee ended September with 13,337 contracts, compared to 219,991 in August. Hydrous ethanol futures totaled 5,840 contracts, compared to 6,257 in August. Soybean derivatives totaled 4,943 contracts traded in September, against 6,546 the previous month.
Agribusiness Securities
In September, agribusiness securities registered with BM&FBOVESPA totaled BRL 27.08 billion, from BRL 25.49 billion in August, including all of the transactions executed in the Agribusiness Securities Registration system. Agribusiness Credit Bills (LCAs) registered with the Exchange totaled BRL 25.38 billion, compared to BRL 23.86 billion in August.
Spot Gold
The spot gold market (250 grams) traded, in September, 1,419 contracts, compared to 706 contracts in August. Spot gold market volume totaled BRL 40.06 million, compared to BRL 18.83 million in the previous month.
Spot US Dollar
There were 161 spot US Dollar transactions totaling USD201 million in September, from 164 and USD168 million in August. US Dollar transactions in the Brazilian interbank market, registered for settlement with the Foreign Exchange Clearinghouse, totaled 2,964 transactions and USD37.71 billion, from 3,114 transactions and USD38.56 billion in August.
Government Securities
Financial volume in the secondary market for government securities totaled BRL 1.81 billion in September, against BRL 1.91 billion in August, based on all of the transactions at SISBEX.
Investor Participation
In September, financial institutions led derivatives trading (BM&F segment), accounting for 34.39% of contracts traded, compared to 32.62% in the previous month. Institutional investors were responsible for 33.53%, compared to 35.96%; foreign investors for 26.89%, compared to 25.37%; individuals for 3.97%, compared to 4.41%; and companies for 1.11%, versus 1.64%.
Individual Investors
BM&FBOVESPA ended September with 134,357 individual investor stock exchange accounts in custody, compared to 130,241 accounts in August.
Volumes and trades by Direct Market Access (DMA)
BM&F Segment
In September, BM&F* market segment transactions carried out through order routing via Direct Market Access (DMA) registered 28,238,693 contracts traded and 3,230,715 trades. In August, the volume reached 33,284,800 contracts traded and 4,284,785 trades.
The volumes registered by each access modality in the BM&F segment were as follows:
• Traditional DMA – 12,204,992 contracts traded, in 1,047,232 trades, in comparison to 11,963,478 contracts and 1,367,477 trades in August;
• Via DMA provider (including orders routed via the Globex System) – 9,668,449 contracts traded, in 233,990 trades, compared to 12,402,882 contracts and 292,153 trades in August;
• DMA via direct connection – 2,691 contracts traded in 266 trades, against 2,834 contracts and 279 trades in August;
• DMA via co-location – 6,362,561 contracts traded, in 1,949,227 trades, compared to 8,915,606 contracts and 2,624,876 trades in August.
In September, transactions carried out by foreign investors presented by CME to BM&FBOVESPA (who use the Globex-BM&FBOVESPA PUMA Trading System order routing system or access BM&FBOVESPA markets via co-location) totaled 2,603,157 contracts traded, in 794,767 trades, compared to 3,856,153 contracts and 1,195,902 trades in August.
BOVESPA Segment
In September, order routing via DMA in the BOVESPA* segment totaled BRL 120.26 billion and 17,668,544 trades, from BRL 123.05 billion and 19,107,739 trades the previous month.
Trading volumes per type of DMA in the BOVESPA segment:
Traditional DMA – Volume of BRL 79.45 billion and 11,114,384 trades from BRL 84.53 billion and 12,927,744 in August;
DMA via provider – Volume of BRL 6.23 billion and 776,921 trades, from BRL 3.37 billion and 533,092 in August.
DMA via direct connection – Volume of BRL 2.35 billion and 151,180 trades, from BRL 2.60 billion and 198,057 in August.
DMA via co-location – Volume of BRL 32.22 billion and 5,626,059 trades from BRL 32.55 billion and 5,448,846 in August;
* 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 trading system 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 September 2009.