Trading members




Definition of access model

Applicant institution presents its business model to BM&FBOVESPA, which will frame its needs to the available access categories.


Admission procedure

The applicant institution must submit its registration documents applicable to the respective category for analysis by BM&FBOVESPA. Following this analysis, BM&FBOVESPA Markets Supervision (BSM) will conduct a pre-operational audit at the institution, in order to verify compliance with the requirements of the basic script of the PQO (Professional Qualification Program). The documentation is then forwarded to the Board of Directors of BM&FBOVESPA.


Operational and technological infrastructure setup

At this stage, the institution - already admitted as a participant of BM&FBOVESPA - finalizes the contracting of access to operational and technological infrastructure as well as the contracting of services and solutions that are suited to its business model. This is an essential phase for the participant to go into operation.



In this phase, the institution must deposit the securities for their safeguarding funds, wherever applicable, and pursue the accreditation of its employees by BM&FBOVESPA. Once all stages have been completed successfully, the participant will be able to operate in the markets managed by BM&FBOVESPA.

BM&FBOVESPA © 2016. All rights reserved. Terms of use.