Equities

Single Stock and Units Futures Contract

• The product

  The Single Stock and Units Futures Contract enables trading the forecast on the future price of a given stock without the need to buy it and be exposed to its fluctuation. The product is intended to meet the demand of investors seeking opportunities for new trading strategies.

• Specifications

  Underlying	Stocks and units
  Ticker	AAAAYZXX – (AAAA) Company code, (Y) type/class of shares, (Z) contract month and (XX) contract year Examples: PETRPM19: PETR4 (PN) Futures June 2019 VALEOU19: VALE3 (ON) Futures September 2019 SANBIZ19: SANB11 (Unit) Futures December 2019
  Contract size	1 share
  Quotation	In points, each point value = BRL 1.00
  Tick size	BRL 0.01
  Round-lot	100 contracts
  Last trading day	3rd Friday in the contract month.
  Expiration date	3rd 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 months	All months
  Settlement on expiration	Cash settlement

• Benefits
  • Low capital investment: In order to operate Single Stock and Units Futures, it is not necessary to have the asset amount, only the collateral. 
  • Leverage: An investor can use leverage to be positioned on stocks with a smaller cash outlay
  • Hedging: An investor can use Single Stock Futures and Units to hedge a cash market porfolio
  • Opportunities for new strategies: Day-trade, cash and carry, short-selling, spot/futures market arbitrage, and pair trading.
  • Enables structured transactions with options