IFIX Futures | B3

IFIX Futures

  • The B3 Real Estate Investment Fund Index (IFIX) is compiled as a weighted average of a theoretical portfolio of shares of exchange-traded and OTC-traded real estate funds pursuant to criteria set forth in its methodology.

    IFIX is a total return index, which measures components real estate funds’ price movements, in addition to assuming that distributions are reinvested into the index.

    The IFIX Futures allow participants to trade future expectations of the real estate fund’s market, without the need to buy the entire basked of shares that composes the index. Consequently, exposing its portfolio to the indicator.

  • UnderlyingIFIX
    Contract sizeIFIX futures contract multiplied by the index point value in Brazilian Reals, each point BRL 10.00
    QuotationIndex points
    Tick size0.10 index points
    Round-lot1 contract
    Last trading day3rd Friday in the contract month
    Expiration date3rd Friday in the contract month. If there is no trading session on this day, expiration will occur on the immediately prior date on which there is a trading session
    Contract monthsEven months
    Settlement on expirationCash Settlement
    • Instrument for hedge strategies against exposure to the real estate fund’s market.
    • Allow to replicate the index, without the need to have the cash and transaction costs of the spot market.
    • Using the correlation factor of real estate funds with the IFIX Futures, it is possible to hedge the portfolio against real estate funds’ volatility, even with quantities differently from the Index composition.
    • Allows arbitrage with the spot market.