Base contracts for the average
  • Cash-Settled Live Cattle Futures Contract (BGI)
  • Cash-Settled Live Cattle Rollover (BR1)
Applicable contracts
  • Live Cattle Futures Contract (BGI)
  • Call and Put Options on Cash-Settled Live Cattle Futures Contract
  • Live Cattle Rollover (BR1)

Specific unit cost calculation

form_calculo_unit_cost.png

Where:

Unit Cost = the cost calculated for the exchange fee or the variable registration fee for one contract;

legenda_P.png = average cost calculated for the exchange fee or the variable registration fee, based on the ADV and the tables below, on a progressive way.

Exchange fee and registration fee – fixed and variable components

ADV Exchange fee (BRL) Registration fee
From To Variable component (BRL) Fixed component (BRL)
1 5 1.27 1.35 0.1166181
6 10 1.21 1.28 0.1166181
11 20 1.14 1.22 0.1166181
21 30 1.08 1.15 0.1166181
31 150 1.00 1.06 0.1166181
More than 150 0.93 0.99 0.1166181

Structured operations are charged per leg.

Incentive policies

The incentive policies below affect only the exchange fee and the variable registration fee. The fixed registration fee remains the same as described on the table.

  • Options: 30% of the unit cost calculated for the exchange fee and the variable registration fee;
  • Daytrade:
    • Futures: 30% of the unit cost calculated for the exchange fee and the variable registration fee of the futures;
    • Options: 30% of the unit cost calculated for the exchange fee and the variable registration fee of the option;

Permanence fee

Contract Reduction factor (λ) Value per day (p)
Live cattle 1.00 BRL 0.03030

This fee is not charged for options.

Settlement fee

For the live cattle contracts, a settlement fee of BRL 2.08 will be charged per contract at the settlement.

Options exercise

Exercise of options on live cattle futures contracts will be charged as a live cattle futures contract.