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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  B3 S.A. - Brasil, Bolsa, Balcão    B3SA3   BRB3SAACNOR6

B3 S.A. - BRASIL, BOLSA, BALCÃO

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B3 S A Brasil Bolsa Balcão : 118-2020-PRE-Circular Letter

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09/17/2020 | 03:40pm EDT

September 17, 2020 118/2020-PRE

C I R C U L A R L E T T E R

To: B3's Market Participants - BM&FBOVESPA Segment

Re: Fee Policy for One-Day Interbank Deposit Futures (DI1)

A new fee policy for One-Day Interbank Deposit Futures (DI1) will enter into effect on November 30, 2020. The HFT DI Short Vertices Program will end on the same day.

Furthermore, a new model for calculating the permanence fee on One-Day Interbank Deposit Futures (DI1) comes into effect on October 30, 2020. The new model grants an additional reduction in the permanence fee for offsetting (opposite) positions in the same contract month, in the same investor's account and via the same settlement participant.

Release 20.1 of Sinacor is compliant with the new permanence fee calculation model. More information about the release can be obtained by calling +55 11 2565-5056 or emailing sinacor.certificacao@b3.com.br.

As of October 30, 2020, this Circular Letter revokes and replaces, solely for One- Day Interbank Deposit Futures (DI1):

  • Circular Letter 101/2003-DG (Sep. 22, 2003), Annex, Section I (3)
  • Circular Letter 044/2011-DP (Oct. 25, 2011), Annex, Section on Post-Trade Fees, item 2
  • Circular Letter 084/2014-DP (Nov. 13, 2014), Annex, Section I, "Permanence Fee"

1

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

118/2020-PRE

As of November 30, 2020, this Circular Letter revokes and replaces:

  • The rest of Circular Letter 084/2014-DP (Nov. 13, 2014), Annex, Section I
  • Circular Letter 026/2018-PRE (Jun. 14, 2018)
  • Circular Letter 056/2019-PRE (August 1, 2019)

The new fee policy is set out in Annex I to this Circular Letter.

The new model for calculating the permanence fee is exemplified in Annex II to this Circular Letter.

Fee schedules are available at http://www.b3.com.br/en_us, Product and services, Fee schedules, Listed equities and derivatives, Interest rates and inflation, DI rates.

Further clarification can be obtained from Support for Settlement Processes and

Services by calling +55 11 2565-5015 or emailing liquidacao.tarifacao@b3.com.br.

Gilson Finkelsztain

José Ribeiro de Andrade

Chief Executive Officer

Chief Product and Client Officer

2

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

118/2020-PRE

Annex I to Circular Letter 118/2020-PRE

Fee Policy for DI Rate Family

1. Fee model

The fee model for the DI rate product family consists of an exchange fee and registration fee, both calculated on the basis of average daily volume (ADV); a permanence fee; and a settlement fee.

ADV is based on trading volume for One-Day Interbank Deposit Futures (DI1). All trades in DI1 futures pay the above fees.

  1. Exchange fee and registration fee - calculation steps
  1. ADV

ADV is calculated on the last business day of each week and consists of the average number of contracts traded in the previous 21 trading sessions.

The quantity of contracts traded is adjusted for contract length and expiration:

n Qaj = Qj × 252

where:

Qaj is the adjusted quantity of contracts for contract month j Qj is the quantity of contracts traded for contract month j

n is the number of business days between the trade date and the contract expiration date

1/7

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

118/2020-PRE

The result is rounded to zero decimal places.

ADV is calculated as follows:

= 21

The result is rounded to zero decimal places.

2.2. Average price

Once ADV has been determined, it is applied to the fee schedule in force on the trade date to obtain the average price (̅) of the exchange and registration fees, calculated progressively as shown in the following table:

Progressive table

Floor

Cap

Value tier

D1

U1

V1

D2

U2

V2

D3

U3

V3

...

...

...

Di-1

Ui-1

Vi-1

Di

Ui

Vi

Dn

Un

Vn

The average exchange fee and registration fee can be expressed mathematically as follows:

  • min(ADV, U1) × V1 + ni=2−1[max ((min(ADV, Ui) − Ui−1),0) × Vi] + max(ADV − Un−1),0) × Vn
    P =

ADV

where:

ADV is ADV calculated as described in 2.1 above U is the upper limit (cap) for each tier

2/7

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

B3 SA - – Brasil, Bolsa, Balcão published this content on 17 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2020 19:39:04 UTC


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Sales 2020 7 748 M 1 382 M 1 382 M
Net income 2020 3 916 M 699 M 699 M
Net cash 2020 5 234 M 934 M 934 M
P/E ratio 2020 30,1x
Yield 2020 3,84%
Capitalization 118 B 21 216 M 21 110 M
EV / Sales 2020 14,6x
EV / Sales 2021 13,6x
Nbr of Employees 1 442
Free-Float 99,2%
Chart B3 S.A. - BRASIL, BOLSA, BALCÃO
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B3 S.A. - Brasil, Bolsa, Balcão Technical Analysis Chart | MarketScreener
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Technical analysis trends B3 S.A. - BRASIL, BOLSA, BALCÃO
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 66,00 BRL
Last Close Price 57,70 BRL
Spread / Highest target 31,7%
Spread / Average Target 14,4%
Spread / Lowest Target -42,8%
EPS Revisions
Managers
NameTitle
Gilson Finkelsztain Chief Executive Officer
Antonio Carlos Quintella Chairman
Cícero Augusto Vieira Neto Chief Operating Officer
Daniel Sonder Chief Financial Officer & IR Officer
Rodrigo Antonio Nardoni Gonçales Chief Technology Officer
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