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B3, the São Paulo Stock Exchange, today launches five new products on the market, expanding the range of transactions offered to retail and institutional investors. Innovations include: mini dollar options, US dollar denominated currency futures, DI option futures, equity futures and futures contracts, and S & P 500 futures micro contracts one of the largest stock indexes in the United States.
The products constitute the "first stage" of a series of launches that B3 will commercialize by the end of 2019. More complex, the five novelties are derivative products: contracts in which, contrary to the market in cash, future payments, the prices of which are linked to badets such as stocks, currencies or indices. They stem from the need for rapid exchange of commodities, for example, by reducing uncertainty about price changes.
Therefore, although the products are available to all types of investors because of their complexity, they are more suitable for institutional investors (such as funds) or more experienced individual investors – such as traders. operating frequently – because they require knowledge of the financial market.
"These are products for a more professional investor because the average investor is still at a very preliminary stage," says Michael Viriato, coordinator of Insper's Financial Lab. "There are people who have just gone out of savings and gone on a fixed income, and those who are out of fixed income are still familiar with products such as real estate funds and ETFs."
According to the superintendent of B3 shares, Marcos Skistymas, one of the highlights is the dollar futures contract. Currently, out of the 12 currencies offered by B3, all have only parity with reality. "Today, if an investor wants to run a currency against the dollar – which was the preference – he has to go through two contracts: first, from the currency in question to real, and then the real for the dollar, "he says. "Thus, one of the effects will be cost reduction." In addition to the 12 currencies already offered by B3, the Norwegian krone, the Russian ruble and the Swedish krona have been included.
Another product will be the mini dollar option. Options are contracts in which the rights to buy or sell a particular badet are negotiated. In other words, the investor does not buy or sell a stock or currency in the future market, but negotiates the right, if he wishes and considers it advantageous, to buy / sell without the need necessarily .
According to Skistymas, this new, small product also aims to reduce the liquidity that has migrated in recent years to the offshore market. According to the Superintendent of B3, the market today accounts for 25% of registered badets in 2008. With the mini dollar, the idea is still to increase the range of investors, bringing the # 39; individual. Indeed, the contract becomes more accessible: today, the option in dollars has a minimum value of 50 000 USD. In the mini-dollar option, each contract will cost 10,000 USD. "In addition, we will have weekly deadlines instead of monthly."
With S & P's future mini-contract, one of the goals was to complete the portfolio of the house. The stock exchange already has the future S & P contract, concluded in partnership with the CME group. Charles Farra, executive director of CME International Market Development, specializing in Latin America, said the launch will provide access to a greater number of investors, the variation of each point in the index being $ 2.50. "Our partnership has been around for ten years and we expect many years of success," he said.
The launch of equity futures – which involves betting on the future expectation of the value of a stock – aims to meet market demand in the face of growth seen in major markets world. Among the uses of this new product, there is the possibility of coverage – protection against price changes. Initially, there will be 12 actions: Petrobras, Vale, Porto Seguro, Kroton, CCR, Cielo, Usiminas, Via Varejo, Cemig, Hypera, Pão de Açúcar Group and B3
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