BM&F BOVESPA

The BM&F Bovespa (São Paulo Stock Exchange) is a São Paulo-based stock exchange. It is the second largest stock exchange in the Americas and the third largest in the world. On May 8, 2008, the São Paulo Stock Exchange (Bovespa) and the Brazilian Mercantile and Futures Exchange (BM&F) merged, creating the new BM&F Bovespa. The BM&F Bovespa is linked to all Brazilian stock exchanges, including Rio de Janeiro's (Boverj), where only government bonds are traded. On May 20, 2008 the iBovespa index reached its 10th consecutive record mark closing at 73,516 points, with a traded volume of USD 4.2 billion.