B3 is continually improving the operational flow of broker dealer accounts to offer greater efficiency and reliability to its clients. In 2024, it delivered some significant improvements, and will continue to advance with new implementations throughout 2025. These developments include greater automation of processes, increased operational capacity and solutions to optimize problem-solving in group dismantling, ensuring an increasingly seamless and secure experience.

Specific enhancements for the 2024 peak season include new treatment for votes originating from the same investor and custodian, which were previously rejected for duplicity. Performance improvements were also implemented to generate the vote map. In addition, B3 made improvements to the CICORP system, including an adjustment to minimize errors when selecting ISIN numbers during Distance Voting Bulletin (BVD) registration. None of these changes require market adaptations.

B3 has changed the concentration limits for open positions for the lending, forward and options markets. These limits are calculated based on the free float of shares and will now be 10% for each investor or group of investors, considering each market separately. Furthermore, groups of instruments will be created to aggregate positions from these markets, with a 15% limit applied to the free float. This means that if an investor uses 10% of their portfolio in one of the markets, only 5% will be available for allocation to another market within the group. The change aims to offer greater flexibility to participants, allowing for a better distribution of limits according to their investment strategies.

A subscription right is when a company decides to increase its capital by issuing new shares. In this situation, the company's shareholders have preference right to purchase the assets in the new lot. Currently, the posting of subscription rights (transfer of rights from the Company's Registration Book to B3’s environment) is carried out entirely manually with physical documents sent to B3, which makes the whole process time-consuming and with a lead time of approximately 3 days. Through this initiative, we intend to automate the entire flow, providing process autonomy to requesters while eliminating operating risks and physical documentation flows. Furthermore, lead time will be reduced by 60%.