Applicable contracts 

Exchange fee
The exchange fee value is determined on a sliding scale, based on the daily volume of spot U.S. Dollar transactions originating from the electronic trading system, per participant. Fee calculation is by tier, as follows, respecting the total of each tier:
Where:
TCAM: exchange rate published by B3 for each day’s T+2 transactions;
Value per tier: value of the exchange fee in each tier of the table below:
Daily volume per institution  Exchange fee (per USD million)  

From (USD millions)  To (USD millions)  
0  150  USD0.84 
150  250  USD0.67 
250  350  USD0,50 
350  450  USD0.34 
450  700  USD0.17 
More than 700  USD0.08 
Incentive policies
 Day Trade: 50% reduction on the original value calculated for each tier’s exchange fee
Registration fee
Regular operations
Registration fee calculation is on a sliding scale, based on the daily volume of transactions, per institution, of the buyer and seller, per participant. Fee calculation is per tier, as follows, respecting the total of each tier:
Where:
TCAM: exchange rate published by B3 for each day’s T+2 transactions;
Value per tier: value of the registration fees in each tier of the table below:
Daily volume per institution  Registration fee (per USD million)  

From (USD millions)  To (USD millions)  
0  150  USD10.00 
150  250  USD8.00 
250  350  USD6.00 
350  450  USD4.00 
450  700  USD2.00 
More than 700  USD1.00 
Incentive policies
 Transactions originating in the electronic trading system: 35% reduction on the original value calculated for the registration fee of each tier. Should an institution register, on the same day, transactions both originating from the electronic trading system and from outside of it, the incentive will be applied as of the first tier, up until the full value of the transactions originating in the electronic trading system.
U.S. Dollar repos
For U.S. Dollar repos, the registration fee (TR) will be calculated by the following formula:
Where:
TCAM: exchange rate published by B3 for each day’s T+2 transactions;
Repo fee value: USD5.00