Ibovespa

Ibovespa Event Contracts

• The product

  The Ibovespa B3 is the main benchmark index for the Brazilian equity market. It reflects the performance of a theoretical portfolio composed of the most actively traded and representative stocks traded on B3, serving as a key indicator of the Brazilian capital markets.

  Event Contracts on the Ibovespa Index are derivative instruments listed on B3 that allow investors to take positions on whether or not a specific event related to the performance of Brazil’s main equity index will occur 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 Ibovespa close above 130,000 points 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 Ibovespa Index will be restricted to professional investors.

  Contratos

  

  EVENT-BASED CALL CONTRACT ON BOVESPA INDEX (.pdf, 240kb)

  

  EVENT-BASED PUT CONTRACT ON BOVESPA INDEX (.pdf, 240kb)

• Specifications

  Underlying	Ibovespa
  Ticker	BBV
  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 for Ibovespa prices.
  • 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.