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.
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.
B3 SA Brasil Bolsa Balcao, formerly BM&F Bovespa SA Bolsa de Valores Mercadorias e Futuros, is a Brazil-based financial market infrastructure provider. The Company's service offerings range from exchange trading, clearing and other post-trading services to registration of over-the-counter (OTC) transactions. The Company also provides a listing service and acts as central securities depository (CSD). It develops software solutions and offers index licensing services. Its business is divided into four segments: Bovespa, which covers trading, clearing and settlement of equities and equity derivatives; BM&F, which covers trading, clearing and settlement of financial and commodities derivatives; Cetip Securities (Cetip UTVM), covering registration, clearing, settlement and custody systems for fixed-income securities and OTC derivatives, and Cetip Financing (Cetip UFIN), which provides an integrated private electronic system for registration of vehicle and real estate loans.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
