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Fairer pricing
Prices adherent to the securities markets.
Improvements to DAP Pricing Model
Enhancement will result in fairer prices
B3 will restructure the DAP pricing model using inputs from the market to define fairer prices (Settlement Price).
Currently, the previous day's price is used and with the current model the DAP settlement price may be outside prices traded in similar assets (TPFs), which mainly impacts the pricing of fund shares
Through this implementation, the yield curve will be calculated based on the day’s data bringing a fairer price to the market.
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Product benefits
Impact reduction
Reduction of operational and commercial impacts for clients in the pricing of financial products that use DAP.
Improvement to pricing model
Learn about the details
Improvements to DAP pricing were made to avoid price distortions and improve theoretical price formation.
By downloading the attached document (link below under “Support material”), you can learn about the adjustments made.
Timeline
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07/31/2023
Go-live
Available to the market
Technical details
Catalog changes
No catalog changes
Main systems
No system impacted
Main related functions
No functions impacted
Certification roadmap
No impact
What is the Sinacor version?
No impact
