(; in full, Bolsa de Valores, Mercadorias & Futuros de São Paulo)
is a stock exchange
located at São Paulo
. As of December 31, 2010 it had a market capitalization of US $1.54 Trillion, making it one of the 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 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 10<sup>th</sup> consecutive record mark closing at 73,516 points, with a traded volume of USD
4.2 billion or BRL
BM&FBOVESPA has offices in New York
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.
After the reforms of the national financial system and the stock market implemented in 1965/1966, Brazilian stock markets assumed a more institutional role. In 2007, the Exchange demutualized... Read More