BM&F Bovespa
The BM&F BOVESPA (Portuguese pronunciation: [boˈvespɐ]; in full, Bolsa de Valores, Mercadorias & Futuros de São Paulo) is a stock exchange located at São Paulo, Brazil. As of December 31, 2011 it had a market capitalization of US $1.22 Trillion, making it in the 13th largest stock exchange in the world. On May 8, 2008, the São Paulo Stock Exchange (Bovespa) and the Brazilian Mercantile and Futures Exchange (BM&F) merged, creating BM&FBOVESPA. The benchmark indicator of BM&FBOVESPA is the Índice Bovespa. There were 381 companies traded at Bovespa as of April 30, 2008.
On May 20, 2008 the Ibovespa index reached its 10th consecutive record mark closing at 73,516 points, with a traded volume of USD 4.2 billion or R$ 7.4 billion, and in August 17, 2011 the Ibovespa made its biggest traded volume in its history, with a volume of USD 14.8 billion or R$ 23.7 billion.
BM&FBOVESPA also has offices in New York City, Shanghai, and London.
History
Founded on August 23, 1890 by Emilio Rangel Pestana, the "Bolsa de Valores de São Paulo" (São Paulo Stock Exchange, in English) has had a long history of services provided to the stock market and the Brazilian economy. Until the mid-1960s, Bovespa and the other Brazilian stock markets were state-owned companies, tied with the Secretary of Finances of the states they belonged to, and brokers were appointed by the government.
