Block Trading Solutions

 Block trading solutions enable the purchase and sale of large volumes on the stock exchange separately from the central order book.

There are three solutions: Midpoint Order Book (Midpoint), Book of Block Trade (BBT), and Request for Quote (RFQ), each with distinct characteristics that have the potential to improve the quality of execution in large transactions.

These solutions can be used by all market participants in Listed Market who wish to trade large volumes, respecting the minimum size defined by the regulator.

As the main benefits of B3's block trading solutions, we highlight:

Benefits

Broader access to the market when finding counterparties for block trading

Privacy (orders will not be disclosed on Market Data)

Operations guaranteed by B3’s Clearinghouse

Easy access via PUMA
(* for Midpoint and BBT)

Potential improvement on the execution price for block trades

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Block Trading is regulated by CVM Instruction 135 dated June 10, 2022. The instruments eligible for trading in such solutions, as well as the respective minimum lots, are defined by the regulator and periodically reviewed based on liquidity indicators for equities and securities representing equities.

B3’s solutions will be available for trading stocks, and the order’s quantity must be indicated in multiples of the minimum lot size defined by CVM for each asset.

More information can be found on the product slide here.

The file with the tradable assets and their respective round lots can be found here.

FAQ - Block Trading Solutions 

Download the FAQ material to access the most frequently asked questions and answers regarding our block trading solutions

 Block Trading Solutions  (PDF, 318KB)

Monthly report of Block Trading Solutions

Access our reports at the links below