Brazil stock exchange keeps commerce flowing
The Sao Paulo, Brazil stock exchange (from the Portuguese Bolsa de Valores de Sao Paulo) is sited in the hub of the largest city in Brazil--Sao Paulo. <a href="http://www.bovespa.com.br/indexi.asp">Bovespa</a>, as it is known, is the largest Brazil stock exchange, as well as the largest stock trading site in Latin America. An average day in 2004 included over one hundred million shares valued at R$ 10 where R$ 1.76 equaled approximately USD$1.
The Sao Paulo stock exchange was begun in 1890 and was run as a state institution up until 1966 at which time it became a civil association with non-profit status. The Sao Paulo, Brazil stock exchange is linked to every other Brazil stock exchange including the government bond trading floor in Rio de Janeiro, known as the Boverj. The major indicator used at Bovespa is the Indice Bovespa of 50 stocks.
Contrary to the U.S. stock exchanges, preferred stock is often the most traded stock class traded on the Bovespa, but common stock is also available. Approximately 550 companies trade on the Bovespa currently according to the website.
During January of 2006 the record mark was set on the Bovespa at 38,382 points or R$2.9 billion reais. This record was followed by two new records of 50,000 points or R$4.02 billion reais which occurred in April 2007, and the May 2007 record mark of 51,300 points.
The original Brazil stock exchange was founded in 1890 by Emilio Pestana and has provided a long list of services to the Brazilian economy and to the stock market. Until the 1960s, the stock exchanges in Brazil were owned by the states in which they were located. Brokers were appointed by the government.
In the decade of the 60s, a number of reforms to the stock market and the national financial system resulted in the Bovespa assuming the role it enjoys today as a non-profit civil association with autonomy in patrimonial, financial and administrative areas. The commercial broker has replaced the governmental securities brokers.
The supervision of the Brazilian stock exchange is granted to the Commission of Movable Assets (Comissao de Valores Mobiliarios) that is analogous to the Securities and Exchange Commission in the United States. Evolving technology such as internet, mobile phones and computer based systems have made the Bovespa the first stock market in Brazil to implement automated information dissemination systems. Telephone trading has been available in Brazil since the late 1970s and in 1990, computerized trading was added on the exchange floor.
In 1990, the negotiations through the Sistema de Negociação Eletrônica - CATS (Computer Assisted Trading System) was simultaneously operated with the traditional system of "Pregão Viva Voz" (open outcry). Currently, the Bovespa is a completely eletronic market, as all trades are performed via the electronic system.
In 1997, a new system of electronic negotiation of the Bovespa, the Mega, was implemented successfully. The Mega extends the potential volume of processing of information and allows that Bovespa to increase its overall volume of activities.
With the goal to increase popular access to the stock markets, Bovespa introduced in 1999 the "Home Broker" and "After-Market", both electronic trading systems allowing small and medium-size investors to participate in trading. The Home Broker system allows users to immediately execute sell and buy orders inside the stock exchange remotely using the internet. The "After-Market" is an evening trading service, where trades are performed even after the market has closed.From Brazil Stock Exchange back to Travel Brazil Guide
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