The origin of B3 is inseparable from that of the market itself. This is why our progress continues to make history in Brazil.
In March 2017, BM&FBOVESPA and Cetip merged, with a common purpose: to work to connect, develop and facilitate the financial and capital markets. Together with our customers and society, to enable Brazil to grow.
That’s when B3 came along and a new chapter in our history began.
We are Brazil’s stock exchange, Latin America’s largest fixed income securities depositary and the country’s biggest clearinghouse for private assets.
Our history stretches back over more than 100 years. And what brought us this far is helping us to build our future. So we are proud of where we came from:
BM&FBOVESPA S.A. – BOLSA DE VALORES, MERCADORIAS E FUTUROS was created in 2008, from the merger of BM&F and Bovespa Holding. Thus one of the world’s largest stock exchanges was born.
With a fully vertically integrated model, BM&FBOVESPA contributed to the process of innovation in the market. From trading and post-trading, the distribution of price quotes, production of market indices, development of systems and software, listing of issuers and securities lending to central depositary.
BM&FBOVESPA’s own systems made it possible to buy and sell shares, mitigate or transfer risks, determine prices, diversify and allocate investments, leverage positions – a series of possibilities that were essential to serve the market and Brazil’s economy.
Last updated on June 30, 2020
BM&FBOVESPA
2008
BM&FBOVESPA is born, from the merger between BM&F and Bovespa Holding.
2010
Strategic partnership signed with the CME Group, with a 5% cross-holding of shares;
2011
Start of the project for the enhancement of the Company's technological park: phase of intense investment in technological infrastructure. The PUMA Trading System, an electronic trading platform created in partnership by BM&FBOVESPA and the CME Group, is launched in the derivatives and currency markets, making multimarket and multi-asset trading in Brazil more efficient.
2012
Presentation to the market of BM&FBOVESPA's Post-Trading Integration Program (Integration of the Clearinghouses) and of CORE (Close-Out Risk Evaluation), a new risk calculation system. Work starts on the new BM&FBOVESPA Data Center.
2013
PUMA Trading System reaches the equities markets. A new way of calculating the Ibovespa index is introduced.
2014
PUMA Trading System starts operating in the private fixed income markets.
BM&FBOVESPA creates and launches the CORE risk calculation system: a platform integrating infrastructures and markets.
The new BM&FBOVESPA data center opens its doors. The company's infrastructure becomes stronger and more efficient, which is essential for us to continue to grow.
Phase One (derivatives) of the BM&FBOVESPA Post-Trading Integration is concluded (Phase Two, equities, was completed in August 2017).
2016
Partnership with CME Group terminated.
The boards of directors of BM&FBOVESPA and Cetip approve the merger of the two companies' operations.
2017
The business combination between BM&FBOVESPA and Cetip is approved by the regulators: Central Bank, Brazilian Securities Commission (CVM) and Administrative Council for Economic Defense (Cade). Thus starts the history of B3.
You can find more details about BM&FBOVESPA’s history in Chapter 7 of B3’s Reference Form.
CETIP S.A. – MERCADOS ORGANIZADOS was incorporated in 1984 in response to a market need, offering solutions and financial services in the organized over-the-counter market.
CETIP
1984
Cetip is founded as a not-for-profit organization, with the support of the Central Bank.
1986
Cetip starts operating.
2008
The association is converted into a for-profit joint-stock company, transforming Cetip's business. As part of the process, ANDIMA SND was incorporated, making Cetip the sole holder of rights over the National Debentures System (SND), the Securities Distribution System (SDT) and contracts and intangible assets.
2010
Cetip purchases the entire capital stock of GRV Solutions. It thus doubles in size and acquires the ability to operate also in the area of consumer credit, offering information and solutions for lending institutions.
2011
ICE Overseas Limited (a member of the Intercontinental Exchange group) acquires an interest in Cetip.
2012
Cetip presents Cetip | InfoAuto Pagamentos to the market, a product that automates and speeds up vehicle financing procedures. It also launches Cetip | Trader, an electronic platform created jointly with ICE to organize trading in fixed income instruments.
2013
Launch of Cetip | Real Estate Platform - Collateral Management. The first product created by Cetip to make the real estate lending process more efficient, quicker and cheaper.
2016
The boards of directors of BM&FBOVESPA and Cetip approve the merger of the two companies' operations.
2017
The business combination between BM&FBOVESPA and Cetip is approved by the regulators: Central Bank, Brazilian Securities Commission (CVM) and Administrative Council for Economic Defense (Cade). Thus starts the history of B3.
