Increase in the Limit of Series of Options on Futures and Spot Contracts

Mandatory

Greater speed in creating series of Options on Futures and Spot Contracts

B3 is implementing a major improvement in its derivatives trading segment. It will increase the limit of series of options available on Futures and Spot Contracts.

Currently, the number of series is limited to a maximum of 124 series per contract, due to the methodology used to generate the settlement ID. This limit required the analysis and closure of old series to allow the creation of new ones, which made the process operationally complex.

To increase efficiency in the creation of new series, and increase the limit of series available on Futures and Spot Contracts, the new methodology will allow the creation of up to 9,999 options per contract month.

It is important to note that the new settlement code will apply exclusively to series created after the Go Live date of the functionality; existing series will retain their current code format.

Project Tags:

Depository

Trading

Listed

In Progress

Listed

Clearinghouse

Product benefits

Operational improvement

Possibility of creating up to 9,999 options per Futures and Spot contract month.

Greater efficiency

Greater agility in creating new option series, without having to rely on the release of old IDs.

Scalability

Significant increase in the number of option series available for trading.

More trades

The new feature enables meeting market demands with greater product availability.

Learn more

New methodology offers greater efficiency to derivatives trading at B3.

The limit for creating series of Options on Futures and Spot Contracts was up to 124 series per contract month. This required the exclusion of old series (with no open contracts) to allow the registration of new series.

Starting April 13, 2026, all newly created series will adopt the updated settlement code structure. This enhancement enables greater scalability for market participants when launching new series.
Under the revised methodology, the maximum number of series per expiration date has been increased to 9,999.

Impacted Files and Messages:

Files	Message
BVBG.028 - Instrument Registration	bvmf.100.02 - Instruments
BVBG.013.02 - Securities Allocation Details	bvmf.020.02 - SecuritiesAllocationDetails
BVBG.015.03 - Take Up Trade Details	bvmf.021.03 - GiveUpTradeDetails
BVBG.014.03 - Give Up Trade Details	bvmf.022.03 - TakeUpTradeDetails
BVBG.016.01 - Derivatives Position Movement	bvmf.025.01 - DerivativesPositionMovement
BVBG.017.02 - Position Report - Account Level	bvmf.027.02 - FungibleDerivativesPositionReport
BVBG.027.02 - Strategy Breakdown Response	bvmf.077.02 - StrategyBreakdownResponse
BVBG.017.02 - Position Report - Account Level	bvmf.095.01 - PhysicalDeliveryPositionReport
BVBG.017.02 - Position Report - Account Level	bvmf.098.02 - NonFungibleDerivativesPositionReport
BVBG.062.01 - Contract Settlement and Renewal Report	bvmf.179.01 - ContractSettlementReport
IMBARQ006	B3 Clearing Positions
IMBARQ008	Options Positions Due - Automatic Exercise Record 01 - Fungible Derivatives Positions
IMBARQ009	Additional Fee Details
IMBG.010	Open Due Options Positions on Carrying Participant - Automatic Exercise
IMBG.003	Open Options Positions on Carrying Participant imb.520.01 - Options Position on Carrying Participant
ARQ.GPS.005 (Premium.txt)	Derivatives Market - Option Reference Premiums