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S&P Merval Futures Contract

  • The product

    S&P Merval Futures Contract allows trading today future price forecasts of the stock portfolio represented by the S&P Merval Index, thus meeting the demand of local investors who seek exchange rate fluctuation and international index exposure with a lower investment amount for the S&P Merval Futures Contract.

    The S&P MERVAL Index, Argentina’s flagship index, seeks to measure the performance of the largest, most liquid stocks trading on the Bolsas y Mercados Argentinos Exchange (BYMA) classified as domestic stocks. The constituents of the index must meet minimum size and liquidity requirements.

  • Specifications
    UnderlyingS&P Merval Index
    TickerIMV
    Contract sizeS&P Merval Futures Contract multiplied by the index point value in Brazilian Reals, each point equals 10 Argentine Pesos
    QuotationIndex points to two decimal places.
    Tick size1 index point.
    Round-lot1 contract
    Last trading dayThe last trading day will be on the Expiration Date
    Expiration dateLast business day of the contract month
    Contract monthsAll months
    Settlement on expirationCash settlement.
  • Benefits
    • Diversified portfolio.
    • International exposure: Allows local investors to gain exposure to the Argentine market.
    • Use of B3’s trading infrastructure and Clearinghouse by trading Brazilian contracts in Argentine Pesos and cash settlement in Brazilian Reals.