Average cost (p): value weighted by the progressive table, based on the ADTV. It is used on the formula that determines the unitary cost of the exchange fee and the variable registration fee.
Base contracts: contracts valid to the ADTV calculation, for each family of products.
Daytrade: buy and sell of the same quantity of assets, made on the same day, by the same broker, for the same participants, settled by the same clearing agent.
High Frequency Trader – HFT: investors that operate large daytrade volumes, using or not automatized algorithms to execute their orders. To become a HFT, the investor must be accredited and meet the conditions stablished by B3.
Master account: A transitory account, which groups together the accounts of investors that have a specific link with each other, such as shared management or representation by the same international intermediary, and is registered under the same full trading participant, settlement participant or trading participant.
Product family: for listed derivatives, all the products that have the same fee schedule for exchange fee and variable registration fee. The grouping is made by the underlying asset.
Progressive method: calculation weighted by the values on each tier of the table and by the total of contracts that fit into the tier, respecting both the lower and upper limits of each tier.
Reduction Factor (λ): Parcel of the permanence fee formula that benefits the investors that keep activity (buying and selling) on their accounts. It is particular for each product and reduces the amount due, up to zero.
Regressive method: direct calculation, by the lowest tier reached, that apply to all contracts.
Reserve day: A business day for the purpose of the operations performed in the financial market, pursuant to the provisions established by the Brazilian National Monetary Council.
Unitary cost: value obtained for a family of products, based on the average cost and other factors present on the formula. Each family has its own formula.