3Q11EARNINGS

November9th,2011

ForwardlookingStatements

Thispresentationmaycontaincertainstatementsthatexpressthemanagementsexpectations,beliefsandassumptions
aboutfutureeventsorresults,Suchstatementsarenothistoricalfacts,beingbasedoncurrentlyavailablecompetitive,
financialandeconomicdata,andoncurrentprojectionsabouttheindustriesBM&FBovespaworksin,
Theverbsanticipate,believe,estimate,expect,forecast,plan,predict,project,targetandthelikeare
intendedtoidentifytheseforwardlookingstatements,whichinvolverisksanduncertaintiesthatcouldcauseactualresults
todiffermateriallyfromthoseprojectedinthispresentationanddonotguaranteeanyfutureBM&FBovespaperformance,
Thefactorsthatmightaffectperformanceinclude,butarenotlimitedto:(i)marketacceptanceofBM&FBOVESPAservices;
The
factors that might affect performance include but are not limited to: (i) market acceptance of BM&FBOVESPA services;
(ii)volatilityrelatedto(a)theBrazilianeconomyandsecuritiesmarketsand(b)thehighlycompetitiveindustries
BM&FBovespaoperatesin;(iii)changesin(a)domesticandforeignlegislationandtaxationand(b)governmentpolicies
relatedtothefinancialandsecuritiesmarkets;(iv)increasingcompetitionfromnewentrantstotheBrazilianmarkets;(v)
y
p p
p
g
g
,
g
p
y
abilitytokeepupwithrapidchangesintechnologicalenvironment,includingtheimplementationofenhancedfunctionality
demandedbyBM&FBovespacustomers;(vi)abilitytomaintainanongoingprocessforintroducingcompetitivenew
productsandservices,whilemaintainingthecompetitivenessofexistingones;(vii)abilitytoattractnewcustomersin
domesticandforeignjurisdictions;(viii)abilitytoexpandtheofferofBM&FBovespaproductsinforeignjurisdictions,
Allforwardlookingstatementsinthispresentationarebasedoninformationanddataavailableonthedatetheywere
made,andBM&FBovespaundertakesnoobligationtoupdatetheminlightofnewinformationorfuturedevelopment,
Thispresentationdoesnotconstituteanoffertosellorthesolicitationofanoffertobuyanysecurities,norshallthere be
anysaleofsecuritieswheresuchofferorsalewouldbeunlawfulpriortoregistrationorqualificationunderthesecurities
law,NoofferingshallbemadeexceptbymeansofaprospectusmeetingtherequirementsoftheBrazilianSecuritiesand
Commission (CVM) Instruction 400 of 2003 as amended
Commission(CVM)Instruction400of2003,asamended,

3Q11highlights
Focusoncostcontrolandreturntoshareholders

FinancialandOperationalhighlights
NetRevenues:R$494MM(3Q10:R$489MM)
(up 0.9%)
(up0.9%)

Adj Expenses.1:R$136MM(3Q10:R$146MM)
(down6.6%)

Volumes growth (3Q11 vs. 3Q10): 15.5% higher in BM&F seg and 11.7% in
BOVESPA seg

HFT hits alltime high on record: 7.8% in BM&F seg and 10.3% in BOVESPA seg

Adj NetIncome.2:R$400MM(3Q10:R$389MM)
(up2.7%)

Adj EBITDA3:R$356MM(3Q10:R$344MM)
(up3.4%)

Shareholder return: 9M11 dividends and buybacks reached R$1.3 bn

( R$0.65
(~
$
per share).
h ) In 3Q11:
Dividends: R$233.6 million, 80% of 3Q11 net income
Buybacks: R$250 million (27.3 million shares)

Budgeted OPEX and CAPEX for 2011 revised down

Strategic Projects

Adj EBITDAMargin:72.1%(3Q10:70.4%)

New fee structure eliminatespreviouscross

eliminates previous crosssubsidies
strengthens
Newfeestructure
subsidies,strengthens
competitivepositionandalignswithinternationalpeers

Derivatives module for the new multiasset platform (PUMA Trading System)
successful implementation of the derivatives module

Adj EPS:R$0.205(3Q10:R$0.194)
EPS R$0 205(3Q10 R$0 194)

Clearing
development
off the
infrastructure
l i integration:
i
i
d l
h technology
h l
f

(up5.9%)

Market making for options on single stocks: ongoing market making for
options on four single stocks and options on IBOVESPA

Excludes stock options plan, depreciation, allowance for doubtful accounts, and tax on dividends from CME Group. 2 Excludes deferred liability recognized in correlation
with temporary differences from amortization of goodwill for tax purposes, the impact of the stock options plan and the investment in associate (CME Group) accounted for
under the equity method of accounting, net of taxes. 3 Excludes stock option plans costs .
3

2011Budgets
Commitmenttocostcontrol
CAPEX 2011Budget

AdjustedOperatingExpenses 2011Budget
(InR$millions)

(InR$millions)

635
544

590

615
580

268

255
210

235

180

2010

2011
(previously)

2011e
(revised)

2011budget:revisedintervaldowntoR$580
2011
budget: revised interval down to R$580590MM
590MM
Improvedexpensestrackingprocesses
Reprioritizedactivities
Morestringentexpensesallocationpolicies

2010

2011
(previously)

2011e
2011
(revised)

2011budget:revisedintervaldowntoR$180210MM
2011
budget: revised interval down to R$180210MM
changeofscheduleoftheconstructionofthenewData
Center
projectsthatrequiretechnologytransferandmustbe
approved by the INPI
approvedbytheINPI

BOVESPASegmentPerformance
HigherVolumes:increasedmarketvolatilityandHFTactivitygrowth
ADTVandMargin
10,00

3Q11Volumes
ADTVsurged11.7%over3Q10
GreaterHFTsshareofoverallvolume
(mainlyforeigners,3Q11volumesoared
87%from2Q11)
Marketvolatilitypositivelyimpacted
Market volatility positively impacted
tradingvolumes

6.16

6.11

6.02

5.86

5.71

6.8

6.7

6.2

6.6

4Q10

1Q11

2Q11

3Q11

8,00
6,00
4,00
5.9
2 00
2,00
0,00
3Q10

ADTV(R$billions)

AveragemarketcapitalizationandTurnovervelocity

HFT:ADTVandshareoftradingvolume

48%

00,0
00,0

6.1%

00,0

7.4%
898.6

10.3%
1,329.1

814.5

00 0
00,0

4.3%

00,0

532.9

318.6

160.0
181.5
191.4

205.0

184.1

174.6

290.8

267.2

319.3

NovDec/10

1Q11

2Q11

3Q11

00,0
00,0

retail daytrading(BRLmillions)
fgninv daytrading(BRLmillions)

447.3

Margininbps

87%

835.1

3,5
3
5
60.1%
3,0
160,0%
140,0%
2,5
120,0%
2,0
100,0%
80,0%
1,5
60,0%
2.3
1,0
40,0%
0,5
20,0%
0,0%
3Q10

localinstitutions daytrading(BRLmillions)
%ofoverallmarket

61.8%

62.1%

9.8p.p.
69 5%
69.5%
59.7%

7
5
3

2.5

2.5

2.5

2.2

4Q10

1Q11

AverageMarketCapitalization(BRLtrillions)

2Q11

3Q11
TurnoverVelocity

BM&FSegmentPerformance
Wellpositionedtocapturegrowthopportunities
1,30

3Q11Volumes

1,20

1,10

OverallADTVup15.5%over3Q10
1,00
1,00
HighervolumesinBRLinterestratecontracts 0,90
RecordHFTsvolumes,surged67%from2Q11 0,80
0,70
Volumestradedinminisizedcontractsand 0,60
stockindexderivativessoared71%and41%
t k i d d i ti
d 71% d 41% 0,50
from2Q11,respectively)
0,40

ADTVin(thds ofcontracts)andRPC(inR$)
1.17
1.04

2,866

2,616

2,428

293
491

286
481

BRLInterestratecontracts
Indexbasedcontracts

2,805

407
543

469
525

1 720
1,720

1 810
1,810

3Q11

1 661
1,661

1 833
1,833

2,127
,

3Q10

4Q10

1Q11

2Q11

FXRates

Others

156

420.3

5.0%
251.4
93.4
37.7
77 3
77.3

4.6%
197.7
82.7
39 3
39.3
70.5
3Q10

4.9

42.5

4Q10

3.9%
211.5
83.6
43.5
43.5
67.0
1Q11

17.1

5.0%
251.3
94.8
45.3
101.1
2Q11

RPC

ADTV:Minisizedandstockindex(inthds ofcontracts)

FXcontracts
%intotalADTV
Minisizedcontracts
7.8%
67%

1.11

2,670

317
422

InterestRatesinBRL

HFT:ADTV(thds ofcontracts)andshareofADTV(%)

1.13

1.10

178.7

77

84

78

89

77

88

91

143

0
101

68.2
148 3
148.3
9.8

24.4

3Q11

3Q10

4Q10
MiniContracts

1Q11

2Q11
StockIndices

3Q11

RevenuesandExpensesDetails
Consistentgrowthofotherrevenuesandfocusoncostscontrols
ExpensesBreakdown 3Q11

RevenuesBreakdown 3Q11

Other

Other
revenues

17%
Trd./Sttmnt
Bovespa
seg.

38%
Trd./Sttmnt
BM&Fseg.

14%

M k ti
Marketing

Personnell

4%
ThirdParty
Serv.

45%

Depr./Am.

38%

7%

48%

12%
15%

Data
processing

R$ millions

GrossOperating Revenues
BOVESPA Seg.(trd.andsttmnt.)
Feesfrom tradingandsttmnt.transactions
Other(includingpublicofferingsttmnt.)
BM&F Seg (trd andsttmnt)
BM&FSeg.(trd.
and sttmnt)
Otheroperating revenues:
Depositaryandcustody
Securities Lending
Market datasales
Listings
Other

3Q11 3Q10
547.1
248.6
244.9
3.7
205 2
205.2
93.3
22.9
19.8
16.2
11.2
23.1

544.1
274.8
232.9
41.9
186 8
186.8
82.5
21.4
12.7
15.4
10.9
22.0

Change%
3Q11x3Q10
Q
Q

0.6%
9.5%
5.2%
91.1%
9 9%
9.9%
13.1%
6.6%
56.1%
5.7%
2.6%
5.0%

CostsControl
P j
Projectsre
prioritization
i ii i

(In R$ millions)
(InR$millions)

167.6

188.7

15.1 5.5

18.9

145.8

3Q10

9.4

188.7
24.5

166.8

169.6
10.1

22.3

10.1

159.0

140.6

143.7

136.3

4Q10

1Q11

2Q11

3Q11

AdjustedOperatingExpenses

Depreciation

Stockoption

20.7

8.5

Others

Depreciation&PersonnelExpenses
Focusoncostcontrolandimprovementsinprocesses
PersonnelExpenses
(InR$millions)
Adj.Personnel

StockOptions

90.3
71.7

9.4

3Q11vs.3Q10:up12.9%
g
Annualbargainwithunionofaround7%

97.5
88.2

24.5

10.1

5.5

81.0

8.5

15%increaseinaverageheadcount(mainlyinITand
businessdevelopment,inlinewithgrowthstrategy)
Therewasnoheadcountincreaseover2011
3Q11vs.2Q11:8.2%lower

66.2

3Q10

80.9

72.9

78.0

72.4

4Q10

1Q11

2Q11

3Q11

Depreciation
22.3

Advancesintheallocationofpersonnelexpensesrelated
toprojectsincreasedtheamountcapitalizedin3Q11to
R$8.4MM(R$5.5MMin1Q11andR$5MMin2Q11);in
(
)
additiontoreversalofR$3.2MMrecordedover1H11
ReductioninProfitsharingprovisionsofaround
R$2.9MMduemainlytomarketconditions

(InR$millions)

3Q11vs.3Q10:up37.3%

6.8

g
g
GrowthresultingfromhigherCAPEXin2010/11

6.8
15.1

18.9

3Q11vs.2Q11:up104.8%

20.7
15.5
10 1
10.1

3Q10

4Q10

1Q11

2Q11

3Q11

Duetoimprovementsinprojectsaccountingprocesses
(R$6.8MMreversionreduced2Q11depreciation
expenses)

FinancialHighlights
Commitmenttoshareholderreturns
FinancialIncome

CashandFinancialInvestments
(inR$millions)

284
1,270

3Q11

468

3,508

1,487

959

496

over3Q10,duetohigheraverageinterestratespaid
oninterestearninginvestments

FinancialExpenses:
p
R$19.4million,comparedto
p

269
4Q10

R$82.7millionin3Q11:up10.3%over3Q10
FinancialIncome:R$102.0million,a9.9%increase
Financial Income: R$102 0 million a 9 9% increase

3,435

1,712

R$17.9millioninthe3Q10,duemainlytothedebt
interest

Marketparticipantscashcollateralandothers*
Restricted funds
Restrictedfunds
Subsidiaries**
Availablefunds

Investments(CAPEX) 9M11:R$115MM

ShareholderReturns(PayoutsandBuybackProgram)

((inR$millions)
$
)

(in R$ millions)
(inR$millions)
BuyBack

216.6

44

42

29

1Q11

235.3

106.1

2Q11

3Q11

685.5

233 6
233.6

584.2

R$1,269.7
~R$0.65pershare

227.7

1Q11

Payout

2Q11

250.4

3Q11
9M11

*Includescollateralspledgedbyparticipantsintheformofcash,receivablesandrightsinsecuritiesundercustody,aswellaspayoutsstillundisbursed
**Includesthirdpartycollaterals(R$142millioninthe4Q10andR$119millioninthe3Q11)andrestrictedfunds(R$11million inthe4Q10andinthe3Q11)atBanco BM&F

StrategicProjects
Growthinitiativesandbusinessmodelstrengthening
Multiassettradingplatform(PUMATradingSystem):
Stateoftheartintradingtechnologyandtechnologicalindependency
Derivates module successfully implemented in 2H11
Derivatesmodulesuccessfullyimplementedin2H11
Equitiesmarkettobeconcludedin2H12
Improvement to Fee Structure
ImprovementtoFeeStructure
Strengtheningthecompetitiveposition,eliminatingcrosssubsidiesandaligningwithinternational
peers
Delivered:i)HFTdiscountpoliciesin2010;ii)rebalancingoftradingandposttradingfeesin2011

IntegrationofthefourBM&FBOVESPAClearinghouses efficiencyandcompetitiveadvantage
Postradingatthebeneficialownerlevel uniquemodelamongthemajorinternationalmarkets.
ContractsignedwithCinnober fornewclearingsystem
Theprojectdevelopmentwilloccurthroughout2012.Integratedmarkettestingandthestartof
implementationofthenewsysteminproductionareforecastedtooccurin2013
MarketMakingforOptionsonSingleStocks:4stocksandIbov indexalreadylaunched
IndexcrosslistingarrangementswiththeCMEGroup andBRICScountries'exchanges
ETFs:twonewETFsrecentlylaunched(totaling10)growthintradingvolumes
OTC:developmentofanewplatform(contractsignedwithCalypso)

10

RecentProjects
...showingresults
HFTsandColocationarrangements:ADTV
BOVESPASegment

MarketMakingforOptionsonSingleStocks:ADTV
Singlestocks:OGXP3andITUB4
1,329

HFTviaotherconnectionmodels

(inR$millions)

HFTviaColocation

(inR$millions)
533

30.7

574

899

812

228

199

15.4

56
477

NovDec/10

613

671

755

1Q11

2Q11

3Q11

JanAug2011

ETFs: ADTV
ETFs:ADTV

Average(Sept Oct2011)

Treasury Direct
70

(inR$millions)

Valueundercustody(R$millions)

8.000

#ofinvestors(inthousands)

60

6.000

50

50 2
50.2
18.6
2009

28.5
2010

7.000

5.000

40

4.000

30
30

3.000

20

2.000

10

1.000

2011(uptoOct31)

Tradingsystemperformanceandthroughputcapacity

Latencyorroundtriptime(milliseconds)insideBVMF
Processingpeak(inmillionmessagesperday)
*Refers tothe systemcapacity

MegaBolsa

GTS

PUMA(2012)

1015

1015

<1

7.5

200*
11

DeliveringStrategicPriorities

Consistentlyincreasing
revenuesandnetincome
d

Capturemacrogrowthopportunities
Despitechallengingshorttermmacroconditions,theBrazilian
capitalmarketsoffergoodopportunitiesfromwhichBVMFcan
benefitinthelongterm

Strengthening
competitiveposition

NewtradingSystem: PUMATrading System(Stateoftheartin

IT):Derivativesmoduleimplemented
Increasingcapitalefficiencybyintegratingclearingfacilities
Rebalancingthefeestructurefortradingandposttradeactivities
firststagecompleted;furtherstudiesongoing

IInvestinginproductsand
i i
d
d
partnerships

Establishadiversifiedproductmixasadriveroflongtermgrowth
Establish a diversified product mix as a driver of long term growth
PartnershipwithCMEdeliversinnovation
NewProducts:marketmakers,crosslisting,ETFsandHFT

Consistentlydelivering
soundfinancialresults
d fi
i l
lt

FocusonOpEx Control 2011Opex Budgetreviseddown

g
g
gp y
Maximizingshareholderreturns:highreturncombiningpayouts
andstockbuybacks

12

APPENDIX

13

IncomeStatementSummary
R$millions

3Q11

3Q10

Change
3Q11/3Q10

2Q11

Change
3Q11/2Q11

OperatingRevenuesGross

547.1

544.1

0.6%

521.3

5.0%

NetOperatingRevenues

493.7

489.3

0.9%

467.6

5.6%

(169.6)

(167.6)

1.2%

(166.8)

1.7%

OperatingIncome

324.1

321.8

0.7%

300.9

7.7%

Equityaccounting

28.3

23.1

22.3%

22.1

28.1%

FinancialIncome

82.7

74.9

10.3%

70.8

16.7%

Income before Taxes

IncomebeforeTaxes

435 1
435.1

419 9
419.9

3 6%
3.6%

393 8
393.8

10 5%
10.5%

NetIncome*

292.0

293.0

0.3%

294.2

0.7%

EBITDA

347.5

338.9

2.5%

313.2

10.9%

70 4%
70.4%

69 2%
69.2%

113 bps
113bps

67 0%
67.0%

340 bps
340bps

399.6

389.0

2.7%

409.2

2.3%

0.205459

0.194071

5.9%

0.208948

1.7%

356.0

344.3

3.4%

323.3

10.1%

72.1%

70.4%

174bps

69.1%

297bps

(136.3)

(145.8)

6.6%

(143.7)

5.2%

Operating Expenses

EBITDA Margin
EBITDAMargin
AdjustedNetIncome
Adjustedearningspershare(in R$)
AdjustedEBITDA
d
d
AdjustedEBITDAMargin
AdjustedOperating Expenses
*AttributabletoBM&FBOVESPAsShareholders

14

ReconciliationofGAAPtoAdjustedNetIncome
3Q11GAAPandadjustednetincomereconciliation
(inR$millions)

292.0

Gaapnetincome

124 7
124.7

(25 7)
(25.7)

Deferredliability

EquityAccounting

8.5

Stockoptions

399.6

Adjustednet
income

R$ millions

3Q11

3Q10

Change
3Q11/3Q10

2Q11

Change
3Q11/2Q11

Gaapnetincome*

292.0

293.0

0.3%

294.2

0.7%

(+)Stockoptionsprogram

8.5

5.5

55.6%

10.1

15.7%

(+) Deferred taxliabilities

(+)Deferred
tax liabilities

124.7

111.6

11.7%

124.7

() Equityaccounting (netoftaxes)

25.7

21.1

21.4%

19.9

29.2%

Adjustednetincome

399.6

389.0

2.7%

409.2

2.3%

*AttributabletoBM&FBOVESPAshareholders

15

DeferredTaxLiabilitiesAccounting
Noimpactoncashflow
(inR$millions)

Deferredtaxliabilities
Defferedincometax
andsocialcontribution

Deferredtaxcredits
142

111

99

124

124,7

13

26

1Q11

2Q11

+18

124,7

3Q11

16

ReconciliationofAdjustedOperatingExpenses

R$millions
TotalExpenses
l

3Q11

3Q10

Change
3Q11/3Q10

Change
3Q11/2Q11

2Q11

169.6

167.6

1.2%

166.8

1.7%

20.7

15.1

37.3%

10.1

104.8%

()Stockoptionsplan

8.5

5.5

55.6%

10.1

15.7%

()TaxrelatedtoCMEdividends

2.6

2.0

31.9%

2.2

18.1%

()Provisionfordoubtfulaccount

1.4

0.8

266.7%

0.6

146.4%

136 3
136.3

145 8
145.8

143 7
143.7

5.2%
5 2%

()Depreciation

Adj t d E
AdjustedExpenses

6.6%
6 6%

17

Balance Sheet
InR$millions
ASSETS
Currentassets

Cashandcashequivalents
Financialinvestments
Others
Noncurrentassets

09/30/2011
2,198.4
139.5
1,861.8
197.1
20,946.6

12/31/2010

LIABILITIES ANDSH.EQUITY

2,547.6 Currentliabilities
104.0 Collateralfortransactions
2,264.4 Others
179.2 Noncurrentliabilities
20,086.4 Financing

L
Longterm
t
receivables
i bl

1 683 6
1,683.6

1 216 8 DeferredInc.TaxandSocialContrib.
1,216.8
D f
dI T
dS i lC
ib

Financialinvestments

1,506.8

1,066.9 Others

Others
Investments
Propertyandequipment

176.8
2,618.0
352.4

TOTALASSETS

12/31/2010

1,605.2

1,416.2

1,222.3

954.6

382.9

461.6

2,254.0

1,798.7

1,125.4

1,010.1

1 061 4
1,061.4

732 1
732.1

67.2

56.6

19,285.8

19,419.0

2,540.2

2,540.2

16,679.7

16,662.5

149.9
2,286.5 Shareholders'equity
367.1

Capital
Capital reserve

Intangible assets

09/30/2011

16,292.7

16,215.9 Others

49.4

200.0

16 4
16.4

16 3
16.3

23,145.0

Minorityinterestinsubsidiaries
Mi
it i t
ti
b idi i
TOTALLIAB.ANDSHAREHOLDERS'
22,634.0 EQUITY

23,145.0

22,634.0
18

BOVESPASegment:OperationalPerformance
ADTV(R$millions)
3Q11

StocksandEquityDerivatives
Cashmarket
h
k
EquitiesDerivatives

6,597.9
6,216.8
381.1

5,904.5
5,508.2
396.4

93.4
287.8

132.0
264.4

121.3
227.2

29.2%
8.8%

23.0%
26.6%

1.8
6,599.7

1.3
5,905.8

1.3
6,207.1

40.8%
11.7%

39.2%
6.3%

3Q10

2Q11

Forwardmarket
Optionsmarket(stocks/indexes)

Fixedincomeandother
Total

3Q10

3Q11/3Q10 3Q11/2Q11
(%)
(%)
6,205.8 11.7%
6.3%
5,857.3 12.9%
%
6.1%
%
348.5
3.8%
9.4%

Market

2Q11

Averagedailynumberoftrades
Market

3Q11

StocksandEquityDerivatives
Cashmarket
EquitiesDerivatives
Forwardmarket
O i
Optionsmarket(stocks/indexes)
k (
k /i d
)

Fixedincomeandother
Total

3Q11/3Q10 3Q11/2Q11
(%)
(%)
(%)
503,616
50.6%
24.6%
422,148
59.7%
28.1%
81,467
11.4%
7.0%

627,727
540,584
87,143

416,700
338,481
78,219

975
86,168
86
168

1,390
76,829
76
829

1,277
80,190
80
190

29.9%
12 2%
12.2%

23.7%
7 5%
7.5%

14
627,741

12
416,712

13
503,629

17.2%
50.6%

2.7%
24.6%

Tradingmargins(basispoints)
Market
StocksandEquityDerivatives
CashMarket
EquitiesDerivatives
ForwardMarket
OptionsMarket

TotalBOVESPA

3Q11

3Q10

2Q11

5.704
5.199
13.930

6.147
5.605
13.680

5.857
5.395
13.627

14.232
12.998

12.998
14.020

12.998
13.963

5.708

6.162

5.862

19

BM&FSegment:OperationalPerformance
ADTV(thousandsofcontracts)
3Q11

3Q10

1 810 3
1,810.3

1 661 0
1,661.0

FXRates

525.0

StockIndices

2Q11

3Q11/3Q10 3Q11/2Q11
(%)
(%)

1 719 8
1,719.8

9 0%
9.0%

5 3%
5.3%

481.3

543.4

9.1%

3.4%

143.4

84.4

101.4

69.9%

41.4%

InterestRatesinUSD

142.7

95.8

186.8

49.0%

23.6%

Commodities

17.0

15.0

15.2

13.6%

11.7%

MiniContracts

155.6

76.5

91.2

103.3%

70.5%

OTC

10.6

14.1

12.3

25.2%

14.4%

Total

2,804.5

2,428.1

2,670.2
2,670.2

15.5%

5.0%

3Q11

3Q10

2Q11

Interest RatesinBRL

0.981

0.951

0.930

3.1%

5.5%

FXRates

1.780

1.989

1.847

10.5%

3.6%

Stock Indices
StockIndices

1.500

1.499

1.753
1.753

0.1%

14.4%
14.4%

InterestRatesinUSD

0.871

1.076

0.893

19.0%

2.4%

Commodities

1.894

2.181

1.948

13.2%

2.8%

MiniContracts

0.121

0.125

0.137

3.0%

11.2%

OTC

1.658

1.687

1.682

1.7%

1.4%

Total

1.112

1.167

1.127

4.7%

1.3%

I t
Interest
t RatesinBRL
R t i BRL

RPC(R$)
3Q11/3Q10 3Q11/2Q11
(%)
(%)

20

BM&FBOVESPA IR
BM&FBOVESPA
Website:www.bmfbovespa.com.br/ir
Phone: 55 11 2565
Phone:55112565
4007/4728/4729/4418/4834
Email:ri@bmfbovespa.com.br