Circular Letter

May 22nd, 2025 006/2025-VNC

PRODUCT OR SERVICE LAUNCH

Implementation of the Implied functionality for the Commodities market.

Intended for segment participants: Listed

Summary: The Implied functionality will be implemented for Commodity Futures Contracts. It connects Exchange Defined Strategies (EDS) and outrights, promoting greater liquidity and market depth.

As disclosed in Circular Letter 038/2025-PRE, of 03/20/2025, the Implied IN functionality was initially launched for the Structured Operations of Neutral DV01 of the DI1 Futures Contract(DII) and the DAP Futures Contract (DAI).

This functionality will be extended to the Commodities market, with implementation expected in waves. The first wave will occur on 05/26/2025, covering the following products:

Corn

  • MR1N25U25

  • MR1N25X25

  • MR1U25X25

    Coffee

  • CR1U25U26

  • CR1U25Z25

    This document produces effects as of the date of its publication. Any specified time limits for validity shall apply. This free translation into English from the original version

    in Portuguese is available for information purposes only, has not been reviewed by B3's legal counsel, and is therefore not legally binding. Any questions arising from this

    free translation should be clarified by consulting the original version in Portuguese. In the event of any discrepancy between this free translation and the original version 1

    in Portuguese, the original version in Portuguese shall prevail.

    INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

  • CR1Z25H26

    Circular Letter 006/2025-VNC



    Ox

  • BR1M25N25

  • BR1N25Q25

  • BR1N25V25

  • BR1Q25U25

The synthetic offers generated by the Implied IN functionality follow the same operational rules already disclosed, including the criteria for creation, cancellation and recreation, as described in Circular Letter 038/2025-PRE, of 03/20/2025.

Eligible derivatives and operations arising from the Implied functionality will have specific identification in the instrument registration messaging and in the execution confirmation and Market Data messages, respectively.

The availability dates, the maturities of Commodities that will have the functionality enabled and the stages of entry into production will be available on the B3 Customers Website. Access and follow the next deliveries to the market.

For more information, please contact our call centers.

Central - Operations Service

+55 (11) 2565-5022 or negociacao@b3.com.br

This document produces effects as of the date of its publication. Any specified time limits for validity shall apply. This free translation into English from the original version in Portuguese is available for information purposes only, has not been reviewed by B3's legal counsel, and is therefore not legally binding. Any questions arising from this free translation should be clarified by consulting the original version in Portuguese. In the event of any discrepancy between this free translation and the original version in Portuguese, the original version in Portuguese shall prevail.

2

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

B3 S.A. - Brasil, Bolsa, Balcão

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B3 SA Brasil Bolsa Balcao published this content on May 22, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 22, 2025 at 14:35 UTC.