Seeking to meet funds administrator’s demands to facilitate mark-to-market processes, B3 has implemented a new reference price calculation methodology for Unsponsored Level I BDRs.
From today, B3 will calculate reference prices per Unsponsored BDR at the end of each regular trading session, complying with the rules below.
- One or multiple trades on the closing call: The reference price will correspond to the last trade executed in that period;
- No trades on the closing call: Assessment will be based on (i) the last Unsponsored BDR trades executed at B3; or (ii) the last price of the underlying asset traded on its exchange, until 4:55 p.m, whichever is the later. The price of the underlying asset will be divided by the Unsponsored BDR’s parity and converted into Brazilian Reals by B3’s Reference Rate. Considering no trades on the Unsponsored BDR or on the underlying asset during the day, will be considered the last reference price calculated and published by B3.
For underlying Unsponsored BDRs on ADRs, the reference price calculation will consider the ADRs prices.
The reference price is published daily, through the BVBG.087 file or on the UP2DATA Equities channel.
For further information, please contact your RM.