S&P/B3 Ibovespa VIX Futures, Rollover and Options

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New strategies linked to the S&P/B3 Ibovespa VIX

The options market has grown significantly in Brazil in recent years, allowing the creation of the S&P/B3 Ibovespa VIX index, which measures the implicit volatility of Ibovespa in the Brazilian market and reflects investor sentiment, following methodologies already established in other global markets.

In seeking to develop this index, which is a non-tradable asset on the exchange, B3 will launch three new products: Futures, Rollover and Options on S&P/B3 Ibovespa VIX, providing new opportunities for portfolio hedging and exposure to the market.

Due to the nature of the VIX index, which has a negative correlation with Ibovespa, investors may hedge their portfolios directly against falls or rises in the Ibovespa index.

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Product benefits

More strategies

Linked to the index, which allow the portfolio to be exposed to market volatility.

Hedging

Of investment portfolios with more effective portfolio risk management.

Assertiveness

Investors will be able to measure the implicit market risk level to make investment decisions.

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New alternatives for hedging against Ibovespa fluctuations.

S&P/B3 Ibovespa VIX Futures: The futures contract on S&P/B3 Ibovespa VIX will allow exposure to the index in a single product.

Futures Rollover: Will make investors' daily lives easier as it works as a mechanism that allows buying and selling two maturities at the same time, thus reducing the risk of executing the rollover of investments.

S&P/B3 Ibovespa VIX Options: Call and put options on the index will be similar to those existing in the market, with cash settlement and expiration on Wednesdays closest to the 15th.

The S&P/B3 Ibovespa VIX index seeks to measure the implicit volatility in the Brazilian stock market. It is a real-time index that reflects investor sentiment regarding the expected volatility in the benchmark index for equities in Brazil – Bovespa index (Ibovespa B3).

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