The trading member (PN) is a broker, securities distributor, investment bank or a bank with an investment portfolio that trades through one or more full trading member (PNP). Commodities brokers are eligible to trade financial derivatives, commodities and gold only. A PN does not have direct access to BM&FBOVESPA's trading environment. The following documents explain the access rules to such markets.
Access settings for negotiation participants (OC 045/2014) - (Portuguese only)
The PN must be previously accepted as an custody agent by BM&FBOVESPA, in accordance with the requirements set forth in the Circular Letter 078/2008-DP.