Strategy expansion
Investors can implement new strategies on the options expiration date.
Trading Index Options (Ibovespa, Small Cap and IbrX-50) on Expiration Day
More opportunities for investors
More opportunities for investors
In response to a market demand, B3 conducted a survey early in 2024 to assess the feasibility of trading Index Options (Ibovespa, Small Cap and IBrX-50) on the day these instruments expire.
Based on the results of the survey, the new feature will be implemented in 2024. The goal is to expand opportunities for investors to trade Index Options to the maximum, taking full advantage of the factors that influence their prices.
Until now, these index options could only be traded up to one day before their expiration, and this made it difficult to use them as hedging instruments. With the change, there will no longer be a need to interrupt the transactions to avoid exposure to the risk of price changes.
Therefore, investors will also be able to open positions on expiration day and take advantage of opportunities for index variations on that day.
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Product benefits
Greater hedging opportunities
Trading options on expiration day will open up new opportunities to hedge positions as the respective index futures trade on the expiration date.
Improved management
Risk management will be made easier as investors can now obtain full market information until options expire.
Timetable synchronization
B3 will provide timetables similar to those used in the Equity Options, ETFs and BDRs markets.
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We will make index options trades available on the expiration day, with timetables similar to those used in the Equity Options, ETFs and BDRs markets.
Investors may trade options on the expiration day. The trading hour windows will be similar to those used in the Equity Options, ETFs and BDRs markets:
From March to October (USA Daylight Saving Time)
- Expiring options trading: From 10:00 a.m. to 3:45 p.m.
- Manual exercise: From 10:00 a.m. to 2:45 p.m.
- Allocation/give-up: By 4:45 p.m.
- Publication of +IMBARQ position file: 5:15 p.m.
- Exercise: At 5:15 p.m.
The settlement index is calculated from 1:55 p.m. to 4:55 p.m.
From November to March
- Expiring options trading: From 10:00 a.m. to 4:45 p.m.
- Manual exercise: From 10:00 a.m. to 3:45 p.m.
- Allocation/give-up: By 5:45 p.m.
- Publication of +IMBARQ position file: 6:15 p.m.
- Exercise: At 6:15 p.m.
The settlement index is calculated from 2:55 p.m. to 5:55 p.m.
Timeline
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10/31/2024
Disclosure plan
Release plan disclosure
Technical details
Catalog changes
No catalog changes
Main systems
No system impacted
Main related functions
No functions impacted
Certification roadmap
Optional and not available
What is the Sinacor version?
No impact
