One of the changes is the requirement of a minimum margin for day trades. This should be required by institutions that trade in mini contracts to control the leverage of individual investors for those contracts. The margins will be BRL100 for each index mini-contract and BRL150 for each U.S. Dollar mini-contract.

Institutions using the RLP order must offer the following educational content to individual investors free of charge:  

• Introduction to day trades and mini contracts. 

• Types of orders and day trades detailing the disadvantages and costs of market to limit orders. 

• Risk management content explaining the benefits of using the stop loss methodology, an order to be triggered whenever the asset reaches a certain level defined by the investor. 

• Behavioral biases. 

Institutions that use RLP orders need to monitor the financial results obtained by individual investors, the use of limited orders and the number of mandatory resets. They must actively communicate with clients who have losses, who do not use limited orders and who have several mandatory resets by sending educational materials and other materials.

Today brokerage houses that use the RLP order and that allow the interaction of the flow by clients authorized by them cannot use separate accounts per mini contract.

In response to the market's request, this update will allow RLP accounts to be used per mini contract, thus allowing different clients authorized by the brokerage house to interact with RLP order flows.

An RLP – Retail Liquidity Provider is a type of exclusive aggressing order, in which the best buy and sell prices are traded. It allows brokerage houses or their own clients to be the counterparty to their retail clients' orders to buy and sell assets.