11/04/2019
B3 announces new edition of its Market Maker Program for equities, BDRs and ETFs
Starting today, B3's equities, BDR and ETF markets will have new market makers. The initiative is part of B3's program focused on liquidity development and the performance of participating assets. This year, in addition to expanding eligible assets, the demand for market maker accreditation in the program has also increased with 13 new accredited institutions in the program, 5 of which are first-time participants. Altogether, 89 equities, 2 ETFs and 230 BDRs have been added, compared to 54 equities in 2018.
The increase in the list of eligible assets is directly related to the success of the first market maker program that ended on Friday, November 1st, with significant results.
The average daily traded volume (ADTV) recorded a 62% increase for the assets participating in the program, compared to a 30% increase for IBRx-100 assets that did not participate in the initiative.
The increase was also observed in other indices, on the same comparison basis: the volume of assets traded grew by 54% (against 18% for non-participating IBRx-100 assets), while the number of trades grew by 49%. (against 16% for non-participants). There was also a significant reduction in spreads between the program’s participating assets compared to the rest of the market.
B3’s market makers are committed to maintaining regular and continuous buy and sell orders during the trading session, thus promoting asset liquidity, facilitating trades and mitigating artificial movements in product prices.
The market makers’ activity period in this program is 18 months starting today, November 4, 2019, to April 30, 2021.
To view the eligible assets, the mandatory parameters and the number of accredited market makers visit B3’s portal.
For further information on market makers visit B3’s portal.