1/8/20

New Fee Policies for Cash Equity Products: Trading and Post-Trade, Central Depository, and Securities Lending Services

Trading volumes in the Brazilian capital markets have reached a new level...

Trading volumes in the Brazilian capital markets have reached a new level. As we assert our role as an infrastructure that seeks to further boost this growth, we announced today a new fee policy for the stock market. The new policy is in line with B3’s commitment to share with its customers the benefits from scale gains and operating leverage provided by its business model. The changes in our fee policy are driven by three principles:

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The financial impact of B3’s new fee policy, if trades in the last 12 months are considered, is estimated to be approximately BRL250 million/year in fee reduction for the market. Check out the key features of the new policy:

  • Lower fees for investors with higher volumes;
  • Discount tables allowing the automatic sharing of scale gains; 
  • Equalization of fee policies among all investors;
  • Creation of incentive program for large day traders;
  • Fixed fee for custody maintenance is reduced to zero;
  • Custody fees waived for small retail investors (with outstanding position below BRL20 thousand);
  • Incentive for securities lending transactions.

Further information on the changes in B3’s fee policy can be obtained from External Communication 001/2020-VPC