Request rules

The procedures and deadlines for requesting PUMALink (creation, cancellation, alteration) are set out below.

  • Certification environment

    A LAN-to-LAN internet VPN is a prerequisite for access to B3’s certification environment.

    PUMALink and VPNs will be made available within seven and a half (7½) business days of request processing by B3.

    It is important to note that this seven-and-a-half day deadline takes only the Exchange’s internal flow into account and does not consider the configurations your institution must set up to enable effective access to the certification environment.

  • Production environment

    Creation of PUMALink Drop Copy and PUMALink for order entry with Drop Copy configurations 

    Window 1 Window 2
    Deadline for receipt of requests Deadline for delivery Deadline for receipt of requests Deadline for delivery
    By 6 pm on mondays Thursdays – ten (10) calendar days after request deadline By 6pm on thursdays 18h Tuesdays – twelve (12) calendar days after request deadline

    Interfaces: BELL Market Data, Entrypoint BOVESPA, Entrypoint BM&F, UMDF Mega Bolsa and UMDF PUMA BOVESPA e BM&F – alteration and cancellation

    Deadline for receipt of requests Deadline for delivery
    By 6 pm on tuesdays Fridays – ten (10) calendar days after request deadline
  • Guidelines common to all types of PUMALink request for production

    The software to be used to send orders and/or receive market data must have been duly certified by the exchange.

    If your institution currently has no DMA trading sessions in production, it must send a completed DMA Adhesion Agreement (TERMO DE ADESÃO E RESPONSABILIDADE REFERENTE À PRESTAÇÃO DE SERVIÇOS DE DMA - IN PORTUGUESE), available from B3 website in Portuguese (Participantes / Documentação Cadastral / Bovespa or Clearing de Derivativos / Download de Formulários Avulsos) to the Service Department at Superintendência de Desenvolvimento de Serviços.

    • Gerência de Desenvolvimento de Serviços
  • Guidelines specific to each type of request

    DMA 1

    For DMA 1 trading session requests in the BM&F segment, the risk management solution must be audited by BSM. A request to schedule this audit must be emailed to the following address. 

    DMA 2

    Activation

    For DMA 2 trading session requests in the BM&F segment, the risk management solution must be audited by BSM. A request to schedule this audit must be emailed to the following address.

    Your institution must also send the request form Request for ACTIVATION of Order Routing Services – Direct Market Access (DMA) – Model 2, attached to Circular Letter 088/2008-DP, to the Service Department at Superintendência de Desenvolvimento de Serviços.

    Pursuant to Circular Letter 030/2010-DP, the DMA Provider must send the Business Services Department (Gerência de Desenvolvimento de Serviços, a letter confirming its link with the Trading Participant. There is no template for this letter.

    It is important to recall that trading desk (MESA) sessions cannot be executed via DMA 2 provider. This is because of the distinction between the concepts of DMA and trading desk, with DMA giving end-customers direct access and MESA sessions being used solely by brokerage house traders via their own infrastructure.

    Deactivation

    Your institution must also send the cancellation form Request for DEACTIVATION of Order Routing Services – Direct Market Access (DMA) – Model 2, attached to Circular Letter 088/2008-DP, to the Service Department at Superintendência de Desenvolvimento de Serviços.

    • Gerência de Desenvolvimento de Serviços

    DMA 3 e DMA 4

    Your institution must sign the respective contract with B3’s Market Data & DMA Unit.