Dollar

Dollar Spot Event Contracts

• The product

  The U.S. Dollar Spot represents the exchange rate expressed in Brazilian reais per U.S. dollar for purchase and sale transactions with same-day settlement in the Brazilian foreign exchange market. This rate reflects the supply and demand conditions for the foreign currency in the country and is widely used as a reference for financial transactions, commercial operations, and the assessment of foreign exchange risk.

  Event Contracts on the U.S. Dollar Spot are derivative instruments listed on B3 that allow investors to take positions on the occurrence or non-occurrence of a specific event related to the variation of the Brazilian real against the U.S. dollar exchange rate on a predetermined date.

  These contracts operate in a manner similar to a binary exercise option, in which the outcome at expiration is objective and previously defined:

  • If the event occurs, the contract is financially settled at a fixed amount of BRL 100.
  • If the event does not occur, the contract expires with no value.

  “Will the U.S. Dollar Spot close above 5.50 on September 30, 2026?”

  The investor decides whether to take a position in favor (“Yes”) or against (“No”) the occurrence of the event.

  The contract price reflects the probability assigned by the market to that outcome and is quoted on a scale from 0 to 100 points.

  At expiration, the contract is automatically cash settled, with a fixed payment of BRL 100 per contract, exclusively for contracts whose event is confirmed.

  In accordance with CVM regulatory guidelines, event contracts based on the spot U.S. Dollar will be restricted to professional investors.

  Contracts

  

  Event-Based Call Contract on Dollar Spot (.pdf, 219kb)

   

  

  Event-Based Put Contract on Dollar Spot (.pdf, 219kb)

• Specifications

  Underlying	U.S. Dollar Spot
  Ticker	BDO
  Option style	European
  Contract size	100 points with each point being equivalent to R$ 1.00
  Quotation	Option premium expressed in points to two decimal places
  Tick size	0.01 point
  Round-lot	1 contract
  Last trading day	The last business day before the expiration date
  Expiration date	Every day of the month
  Contract months	All months
  Option exercise	On the expiration date, the option exercise is perfomed autmatically by B3, according to the contract conditions

• Benefits
  • Simple and objective structure.
  • Fixed payoff of BRL 100 per contract when the event occurs.
  • Direct exposure to predefined scenarios of exchange rate variations.
  • Transparent price formation, reflecting the probability of contract exercise.
  • Objective and previously defined criteria for determining the event outcome.
  • Buyer’s and seller’s risk is known at the time of the trade and is limited.