BM&FBOVESPAS.A.

announcesitsearningsforthefirstquarterof
2009.NetincomereachedR$227.0million
withearningspershareofR$0.11.

Unadjustednetincomeforthefirstquarterdeclinedby1.4%fromthesamequarterayearearlier.
1Q09netrevenuesofR$316.5million,decreasedby20.2%fromthesamequarterinthepreviousyear.
1Q09operationalexpensesreachedR$148.8million(R$139.8millionnetofdepreciation).However,excluding
depreciationandcostsincurredfortheemployeestockoptionplanandemployeeterminations,adjusted
operationalexpensesamountedtoR$103.0million,a17.4%decreasefromthesamequarterinthepreviousyear,
inlinewiththeR$450milliontargetfortheyear.
TheAdjustedNetIncomeinthe1Q09amountedtoR$258.3millionandtheAdjustedEBITDAtoR$213.5million,
excludingtheabovementionedeffectsoftheemployeestockoptionsplanandofemployeeterminations.
TheAdjustedEBITDAMarginfor1Q09was67.5%.
TheBoardofDirectorsapprovedaR$112milliondistributionofinterestonshareholdersequity.

FinancialResultsHighlights:
Netincomefor1Q09amountedtoR$227.0million(EPSofR$0.11),ayearoveryeardeclineof1.4%.Netmargin
fortheperiodwas71.7%,ascomparedto58.1%ayearearlier.
EBITDAfor1Q09fellby34.8%,toR$176.7million,whereasEBITDAmargindeclinedto55.8%from68.5%in1Q08.
Net revenues for the quarter decreased by 20.2% from the previous year, primarily due to a decline in trading
volumeinourcashmarketsandderivativesmarkets.
The decline in operational expenses is mainly due to reduction in costs related to (i) personnel (excluding the
effectsoftheexpensesmentionedabove),a11.5%decrease,(ii)marketingexpenses,a68.0%cut,and(iii)data
processing,a25.0%drop.
Theactualincomeandsocialcontributiontaxrateforthequarterwas3.6%,amountedtoR$8.4million,which
reflects the amortization of intangible assets (goodwill) amounting to R$245.5 million (net impact of R$79.6
million)inthequarter.

1/12

SummaryofIncomeStatements
1Q08
(ProForma)

Variation
1Q09/1Q08

316,548

396,031

20.2%

Operatingexpenses

(148,760)

(132,550)

12.2%

Interestincome,net

67,859

77,792

12.8%

226,980

230,273

1.4%

(inBRLThousands)
Netrevenues

Netincome
NetMargin

1Q09

71.7%

58.1%

13.6p.p.

176,739

271,258

34.8%

EBITDAMargin

55.8%

68.5%

12.7p.p.

EarningsperShare(EPS)

0.113

0.115

1.4%

EBITDA

Adjusted Net Income: in 1Q09 the adjustments amounted to R$31.4 million due to Stock Option Plan (R$ 18.8
million)andemployeeterminations(R$12.6million,netoftax).
AdjustedEBITDA:in1Q09theadjustmentsamountedtoR$36.8millionduetoStockOptionPlan(R$18.8million)
andemployeeterminations(R$18million).

(inBRLThousands)

1Q09

1Q08
(ProForma)

Variation
1Q09/1Q08

AdjustedNetIncome

258,340

230,273

12.2%

AdjustedNetMargin

81.6%

58.1%

23.5p.p.

213,539

271,258

21.3%

67.5%

68.5%

1.0p.p.

AdjustedEBITDA
AdjustedEBITDAMargin

Quotes:
Thefirstquarterof2009stronglyevidencesthesubstantialrestructuringprocesstheCompanyhasundergonein
the last twelve months. The reduction in personnel reached almost 30% and completed the integration cycle
betweenthetwointegratedcompanies.Thiswasaccomplishedwithoutanybusinesslinehavingbeenaffected.
AnotherhighlightofthequarterwasthestartoforderflowunderouragreementwiththeCMEGroup,whichas
of March achieved a daily average of 10.7 thousand trades, or 0.6% of the total trades, said the CEO, Edemir
Pinto.
Inaddition,notedtheCFO,CarlosKawall,volumetradedonourderivativesmarket,intheBM&Fsegment,has
alreadyshownsignsofimprovementwhencomparedtotheendof2008,havingreachedadailyaverageof1.47
millioncontractstrade.IntheBovespasegment,theflowofforeigninvestmentstotheequitymarketachieveda
positivenetbalanceofR$1.4billion.

2/12

Otherfinancialhighlights:

Cashposition:Cashandcashequivalents(ShortandLongTerm)asofMarch31,2009,amountedtoR$3.15
billion,comprisedofcollateralsworthR$1.14billiondepositedwithourclearinghouses,andR$610million
inownfinancialresourcesdepositedinrestrictedfunds.

Interestincome,net:forthefirstquarterwasR$67.9million,representinga12.8%dropwhencomparedto
1Q08,primarilyduetoadecreaseinourcashpositionattributabletoaR$1.2billionpaymentmadeinJune
2008toformershareholdersofBovespaHolding,whichwaslatermergedintotheCompany.

Effects of the switch to IFRS: as a result of the change in Brazilian accounting principles and reporting
standards, which are in line with the standards adopted by the Brazilian Committee of Accounting
Standards (Comit de Pronunciamentos Contbeis), or CPC, we recognized 1Q09 expenses amounting to
R$18.8 million related to adjustments to the stock options plan adopted by BM&FBOVESPA and R$0.2
millionrelatedtoexpenseswithleases.

1Q08 Pro Forma Income Statement: In preparing the Pro Forma Income Statement the following
adjustments were made: elimination of expenses incurred with respect to the demutualization and
goingpublicprocessesofbothBM&FandBovespaHolding.

Cash distributions: On May 12, 2009, the Board of Directors approved a R$112 million distribution of
interest on shareholders equity, equivalent to R$0.0559 per share, which amounts to R$0.0475 net of
withholding income tax. This cash distribution will be paid to shareholders on May 29, 2009 based on
ownershippositionsasofMay15,2009.

DiscussionofBM&FBOVESPAsactualandproformafinancialresults:

Grossrevenues
Gross Revenues amounted to R$351.9 million. Revenues from trading and/or settlement systems in the BM&F
andtheBovespasegments,whichcomprisetheCompanysprimarysourceofrevenues,equaled81.1%oftotal
grossrevenuesforthefirstquarter,ascomparedto87%forthesamequarterayearearlier.Grossrevenuesfor
thequarterdeclinedby20.2%fromthepreviousyear.

GrossRevenuesComposition 1Q08
R$440.9million

GrossRevenuesComposition 1Q09
R$351.9million
Other
Revenues
19%

Other
Revenues
13%

Trd/Sttlmnt
BM&F
Segment
36%

Trd/Sttlmnt
Bovespa
Segment
52%

Trd/Sttlmnt
Bovespa
Segment
45%

3/12

Trd/Sttlmnt
BM&F
Segment
35%

Grossrevenuesfromothersignificantactivitiesinclude:

Depository/Custody/BackOffice:1Q09revenuesofR$16.1millionrepresent4.6%oftotalrevenues,anda
12.3%increaseoverthesamequarterayearearlier;

Trading participant access fees: revenues for the first quarter climbed by 185.5% when compared to the
sameperiodayearago,toR$9.5millionfromR$3.3million,andreflectsournewparticipantaccesspolicy;

Vendors:revenuesforthefirstquarteramountedtoR$11.5million,or3.3%oftotalrevenues,representing
ariseof18.9%overthesamequarterinthepreviousyear;

Listing fees: 1Q09 revenues of R$10.6 million represent 3.0% of total revenues, and a 49.1% surge when
comparedtoR$7.1millionforthesamequarterayearearlier.Thisgrowthinrevenuesismainlyduetothe
newpricingpolicyadoptedinconnectionwithlistingfeeschargedtoissuers,andtothegradualreduction
ofdiscountsgrantedinrecentyearstocompanieslistingsecuritiestotradeonourspeciallistingsegments;

Securities lending: 1Q09 revenues of R$6.1 million represent 1.8% of total revenues, and a 60.2% drop
whencomparedtoR$15.4millionforthesamequarterinthepreviousyear;and

1Q09revenuesfromdividendsintheamountofR$5.4millionrelatedtoourownershipinterestintheCME
Group.

OperationalExpenses:
Adjusted operational expenses (excluding depreciation and R$36.8 million of personnel costs, incurred for
employeestockoptionsplanandemployeeterminations)declinedby17.4%inthefirstquarteronayearover
year comparison, demonstrating moresignificant resultsfrom synergiescaptured fromthe integrationprocess.
Mainhighlightsinclude:

Personnel: 11.5% decline in expenses for the first quarter, excluding the costs incurred for employee
terminations and stock options plan. Total personnel expenses amounted to R$85.5 million in 1Q09,
breakdownasfollows:
o

R$18.8 million in expenses from employee stock options, where R$10.3 million relates to expenses
recognizedintheperiod,andR$8.5millioninadjustmentsrelatedtoemployeeterminations;

R$18.0millioninseveranceexpensesfromemployeesterminatedinthefirstquarterof2009;and

R$48.7millioninothercurrentpersonnelexpenses,ascomparedtoR$55.0millionin1Q08.

Dataprocessing:decreasedby25.0%,toR$26.7millionfromR$35.6millionpreviously.

Marketingandpromotion:droppedby68.0%,toR$2.3millionfromR$7.2millionearlier.

4/12

Maindevelopments:
Developmentsintradingenvironments
BM&Fsegment
May
BloombergTradebookconnectedtotheExchangesGlobalTradingSystem(GTS)toprovidecustomerswith
aninternationalorderroutingsystem.
June
GL Trade (GL Net) connected to the Exchanges GTS to provide customers with an international order
routingsystem.

Offeringofcolocationservices(connectivitytotheGTSsystem).

July
Shutdownofthetradingfloor.

Bovespasegment
May
StartinginMaywewillhavecompletedtheimplementationofthenewversionofthesoftwareonwhich
the MegaBolsa electronic trading system runs, as developed by NYSE Euronext. The new version (V900)
replacestheV837versionimplementedinJune2008.Itisestimatedthattheaverageinternalprocessing
time,knownasRTT(roundtimetrip),willdecreaseto170milliseconds,fromthecurrent290milliseconds.
Subsequently, with the implementation of the new low latency multilevel communication interface (the
newMultiGateway),scheduledforJuly2009,theRTTwilldropto15millisecondsanditisestimatedthatit
willfallto8millisecondsuntilDecember2009.

Reduction in fees charged for orders entered in the MegaBolsa trading system, and not matched, which
drovegrowthinalgorithmictrading.

July
AuthorizationtoDMAviaproviderimplementation(DMAmodel2)intheMegaBolsatradingsystem(tobe
approvedbyBrazilianSecuritiesExchangeCommissionCVM).

August
Completion of the project to increase the capacity of the equities clearinghouse (formerly, CBLC) to 1.5
milliondailytrades.

Offeringofcolocationservices(connectivitytotheMegaBolsasystem).

Thomson Reuters connected to the Exchanges MegaBolsa system to provide customers with an
internationalorderroutingsystem.

5/12

BM&FandBovespasegments
November
Implementation of the integrated external communication interface for both MegaBolsa and the GTS
systems,whichwillpermitmarketdatatransmissionfromeithersystemviaasinglechannel.

Newpricingpolicy
Duringthefirstquarterwecontinuedtoimplementchangestothepricingpolicyforourproductsandservices.
The principal objectives of these changes include reducing or eliminating cross subsidies, driving liquidity and
betterbalancingoursourcesofrevenues.Moreover,thesechangeswillprovidemorecompetitiveproductsand
services,whichshouldencouragenewbusinessbycurrentmarketparticipantsandattractnewones.

Trading,clearingandsettlementactivities:

BM&F Segment: on February 16, 2009, we implemented a new pricing policy that adopts progressive
discountratesbasedonrangeofvolumetraded;and

BovespaSegment:
o Settlement rates: Reduction of settlement fees charged to individuals and companies trading on our
cash markets. In addition, we established a five basis point rebate for lenders (except nonresident
lenders) relative to fees charged to borrowers transacting in our securities lending system. This new
policy,whichtookeffectonMay4,2009,andwillbeimplementedgradually,shouldbefullyinplace
startinginFebruary2010(thesecuritieslendingrebatewasfullyimplementedonMay4,2009);and
o Depository services: We charge fees pursuant to a percentage charge system based on the value of
assets under custody with the Depository, which is not applicable to nonresident accounts and to
custodyaccountsunderR$300thousandandtononresidentinvestors.ThispolicytookeffectonMay
4,2009andwillbeimplementedgradually,whichshouldbefullyinplacestartinginFebruary2010.
OtherServices:

InformationsignalsbroadcastbyVendors:PursuanttothenewpricingpolicywhichtookeffectinApril2009,
wechargefeesforsignaltransmissiontovendorsnotjustforconsistencybetweenthepoliciespreviously
adoptedineachoftheBM&FandBovespasegments,butalsoforalignmentwithinternationalpractices;

Listingactivities:Beginninginearly2009,thenewpricingdisciplineadjustedtheminimumchargescollected
fromissuersbywayofannualfees.

6/12

Analysisofoperatingdata:
BM&FSegment:

Average daily traded contracts: Contracts traded in the firstquarter of 2009fellby 16.2% from thesame
quarter a year earlier, which reflects the ongoing deleveraging process among market participants in
responsetotheglobaleconomicdownturnandtheneweconomicreality.ThevolumeofUSDforexcontracts
andInterestratefuturescontractsdroppedby33.7%and7.5%,respectively.

Averagerevenuepercontract(RPC):Averagerevenuepercontractfor1Q09droppedby4.0%fromayear
ago.RPCwasnegativelyimpactedbytheriseinnumberofshorttermtrades,inparticulartradesininterest
ratecontracts.Conversely,itwaspositivelyinfluencedbyadevaluationoftheBrazilianrealagainsttheU.S.
dollar,whichresultedinanincreaseinRPCfromtradesinUSDforexcontractsandUSDInterestratefutures
contracts.Inaddition,untilFebruary13,2009,wehadbeengrantinga40%fixeddiscountoverourfeesas
part of the transition to the new pricing policy which adopts a progressive discount mechanism based on
volumetradedbyparticipants.

Globex: Due to the then deepening global economic downturn adherence to the GTS and Globex
interconnectedroutingordersystemsbegantobearfruitonlyinthefirstquarterof2009,havingreacheda
dailyaverageof10.7thousandcontractsinMarch,or0.6%ofthevolumetradedintheBM&FSegment

Algorithmictraders:Thiskindofinvestorsaccountedforadailyaverageof8.1thousandcontracts,or0.3%of
the overall number of contracts in 1Q09. In April 2009 the share of algorithmic traders in overall ADTV
increasedto0.53%andreached1.8%inFXcontracts.

BovespaSegment:

Averagedailyvolume:Dailyvolumetradedin1Q09fellby33.8%onayearoveryearbasis,primarilyduetoa
dropinthemarketpricesofstocks.Forexample,theaverageIbovespaindexfellby35.1%whencompared
tothesameperiodayearearlier.Theaveragedailynumberoftradesinturnroseby35.5%overthesame
periodayearago.

Turnovervelocity:AnnualizedTurnovervelocityinthecashmarketreached61.8%in1Q09,ascomparedto
58.7%inthesamequarterayearago.Wecontinuetoadoptinitiativesaimedtodriveincreaseinturnover,
suchas,forexample,actionstoboostthevolumeoftradingbyretailinvestors,whichincludeareductionin
feesandwaiveroftheadditionalfeewecustomarilychargetocustodyaccountsunderR$300thousand,as
wellasthedevelopmentofnewproducts,astheExchangeTradedFunds(ETF).

Investors: Thenumberofinvestorstradingonourmarketsinthefirstquarterof2009increasedto547.8
thousandfrom507.7thousandinthesameperiodayearago,primarilyduetoentryofnewretailinvestors
who account for 96% of the total number of investors. Retail investors have been continually stepping up
theirtradingbusiness,whichin1Q09accountedfor34%oftotalvolumetraded,comparabletothevolume
oftradingbyforeigninvestors.

Securitieslending:Thefinancialvalueofopeninterestpositionsattheendof1Q09hadfallenby54.3%from
thesamequarterayearearlier.ThechangeinpricingpolicyfortheBovespasegment,whichincludesafive
basispointrebateforlenders(otherthannonresidentlenders)relativetofeeschargedtoborrowers,seeks
to push this market further and spur liquidity by incentivizing investors to lend securities through our
securitieslendingsystem.

7/12

TreasuryDirect(TesouroDireto):thenumberofgovernmentbondstradedin1Q09increasedby80.7%ona
yearoveryearbasis.Withtheaimofpushingtradingactivitiesinthissegment,startinginthesecondhalfof
2009 we plan to have the Home Broker system include the Treasury Direct online trading tool for easier
accessbyindividualinvestors.

ETFs: Volume traded in ETFs has been growing steadily since February 2009, at which time average daily
volume traded reached R$5.3 million. It subsequently climbed to R$11.4 million in March and to R$20.3
millioninApril,primarilyduetosignificanttradingbyinstitutionalbuyers,financialinstitutionsandforeign
investors,whichaccountedfor37.4%,32.5%and15.9%ofvolumetradedin1Q09,respectively.

Foreigninvestments:thepositiveflowofforeigninvestmentstothestockmarketoftheBovespasegment
pickedupinthefirstquarterof2009,havingnettedR$1.3billion,ascomparedtoanegativenetbalanceof
R$0.8millioninthesamequarterayearearlier.

8/12

CONSOLIDATEDSTATEMENTSOFINCOME(1Q09)ANDPROFORMANONAUDITED(1Q08),INBRLTHOUSANDS

GrossOperationalRevenues
BM&FSegment
Derivativestrading/clearingfees
ForeignExchangetrading/clearingfees
Securitiestrading/clearingfees
BrazilianCommoditiesExchange
BM&FBank

351,918
130,547
121,434
5,692
44
1,406
1,971

1Q08
(ProForma)
440,919
154,938
148,664
4,620
107
932
615

BovespaSegment
Tradingfees
Clearingfees
SecuritiesLending
Listing
Depositaryandcustody
Tradingaccess(Brokers)

200,503
113,732
44,464
6,127
10,621
16,084
9,475

270,527
164,342
66,044
15,380
7,123
14,319
3,319

OtherOperationalRevenues
Vendors
Commoditiesclassificationfees
Dividends
Others

20,868
11,521
215
5,371
3,761

15,454
9,688
171

5,595

Revenuedeductions
PISandCofins
Servicetax

(35,370) (44,888)
(31,066) (40,444)
(4,304) (4,444)

NetOperationalRevenues
OperationalExpenses
Personnel
Dataprocessing
Deprec.andAmortization
ThirdPartyServices
Maintenance
Communications
Leases
Supplies
Marketing
Taxes
BoardCompensation
Other
OperatingIncome
Oper.Margin(variationinp.p)
FinancialIncome
FinancialRevenues
FinancialExpenses
IncomebeforeTaxes
IncomeTaxandSocialContribution
IncomeTax
SocialContribution
MinorityInterest

316,548
(148,760)
(85,462)
(26,683)
(8,951)
(9,119)
(2,826)
(4,991)
(825)
(477)
(2,292)
(495)
(1,129)
(5,510)
167,788
53.0%
67,859
74,303
(6,444)
235,647
(8,372)
(6,457)
(1,915)
(295)

NetIncome
NetMargin(variationinp.p)
EBITDA
EBITDAMargin(variationinp.p)
EarningsperShare(EPS)

226,980
230,273
71.7%
58.1%
176,739 271,258
55.8%
68.5%
0.113
0.115

1Q09

9/12

396,031
(132,550)
(54,968)
(35,567)
(7,777)
(9,228)
(3,243)
(4,224)
(972)
(516)
(7,153)
(1,513)
(2,036)
(5,353)
263,481
66.5%
77,792
82,968
(5,176)
341,273
(111,363)
(81,875)
(29,488)
363

Variation
1Q09/1Q08
20.2%
15.7%
18.3%
23.2%
58.9%
50.9%
220.5%
25.9%
30.8%
32.7%
60.2%
49.1%
12.3%
185.5%
35.0%
18.9%
25.7%

32.8%
21.2%
23.2%
3.2%
20.1%
12.2%
55.5%
25.0%
15.1%
1.2%
12.9%
18.2%
15.1%
7.6%
68.0%
67.3%
44.5%
2.9%
36.3%
13.5p.p.
12.8%
10.4%
24.5%
31.0%
92.5%
92.1%
93.5%
181.3%
1.4%
13.6p.p.
34.8%
12.7p.p.
1.4%


CONSOLIDATEDBALANCESHEET,INBRLTHOUSANDS
ASSETS
Currentassets
Cashandcashequivalents
Financialinvestments
Accountsreceivablenet
Otherreceivablesnet
Taxesrecoverableandprepaid
Deferredincometaxandsocialcontribution
Prepaidexpenses
Longtermreceivables
Financialinvestments
Otherreceivablesnet
Deferredincometaxandsocialcontribution
Judicialdeposits
Prepaidexpenses
Investments
Otherinvestments
Propertyandequipment
Intangibleassets
Goodwill
Softwareandprojects
TOTALASSETS

3/31/2009
2,814,573
14,524
2,577,550
138,094
19,854
16,886
41,357
6,308
730,230
553,643
6,519
73,476
96,396
196
1,318,279
1,318,279
246,680
16,094,517
16,064,309
30,208
21,204,279

LIABILITIESANDSHAREHOLDERS'EQUITY
Currentliabilities
Collateralfortransactions
Earningsandrightsonsecuritiesincustody
Suppliers
Salariesandsocialcharges
Provisionfortaxesandcontributionspayable
Incometaxandsocialcontribution
Financing
Dividendsandinterestonowncapitalpayable
Redemptionofpreferredsharestobesettled
Otheraccountspayable
UnearnedRevenues
Noncurrent
Provisionforcontingenciesandlegalobligations
Otheraccountspayable
UnearnedRevenues
Minorityinterestinsubsidiaries

3/31/2009
1,677,230
1,135,943
36,368
12,237
29,764
18,017
1,339
3,570
185,098
4,132
218,689
32,073
47,538
47,224
314

SHAREHOLDERS'EQUITY
Capital
Capitalreserve
Revaluationreserves
Legalreserve
Statutoryreserves
Treasurystock
RetainedEarnings
TOTALLIABILITIESANDSHAREHOLDERS'EQUITY

19,463,879
91.8%
2,540,239
12.0%
16,625,612
78.4%
23,986
0.1%
3,453
0.0%
302,928
1.4%
(257,973) 1.2%
225,634
1.1%
21,204,279 100.0%

15,632

10/12

13.3%
0.1%
12.2%
0.7%
0.1%
0.1%
0.2%
0.0%
3.4%
2.6%
0.0%
0.3%
0.5%
0.0%
6.2%
6.2%
1.2%
75.9%
75.8%
0.1%
100.0%

7.9%
5.4%
0.2%
0.1%
0.1%
0.1%
0.0%
0.0%
0.9%
0.0%
1.0%
0.2%
0.2%
0.2%
0.0%
0.0%
0.1%

12/31/2008
1,965,461
40,227
1,744,069
105,169
9,933
9,540
48,594
7,929
808,863
629,945
11,361
73,476
93,885
196
1,318,282
1,318,282
247,850
16,089,633
16,064,309
25,324
20,430,089
31/12/2008
1,075,744
585,963
36,020
18,442
20,806
40,254
2,652
4,087
194,984
4,132
168,404

46,729
46,160
569
15,892

9.6%
0.2%
8.5%
0.5%
0.0%
0.0%
0.2%
0.0%
4.0%
3.1%
0.1%
0.4%
0.5%
0.0%
6.5%
6.5%
1.2%
78.8%
78.6%
0.1%
100.0%

Variation
43.2%
63.9%
47.8%
31.3%
99.9%
77.0%
14.9%
20.4%
9.7%
12.1%
42.6%
0.0%
2.7%
0.0%
0.0%
0.0%
0.5%
0.0%
0.0%
19.3%
3.8%

5.3%
2.9%
0.2%
0.1%
0.1%
0.2%
0.0%
0.0%
1.0%
0.0%
0.8%

Variation
55.9%
93.9%
1.0%
33.6%
43.1%
55.2%
49.5%
12.6%
5.1%
0.0%
29.9%

0.2%
0.2%
0.0%
0.0%
0.1%

19,291,724
94.4%
2,540,239
12.4%
16,606,853
81.3%
24,131
0.1%
3,453
0.0%
302,928
1.5%
(185,880) 0.9%

0.0%
20,430,089 100.0%

1.7%
2.3%
44.8%

1.6%
0.9%
0.0%
0.1%
0.6%
0.0%
0.0%
38.8%

3.8%


OPERATIONALSTATISTICSBM&FSEGMENT

AVERAGEDAILYTRADEDCONTRACTS(THOUSANDS)
Variation
Product
1Q09
1Q08
1Q09/1Q08
(%)
BRLInt.ratecontracts
861.8 931.3
7.5%
USDInt.ratecontracts
92.5 93.0
0.5%
FXContracts
378.6 570.9
33.7%
Indexbasedcontracts
72.8 92.4
21.2%
Commoditycontracts
10.1 13.4
24.6%
OTCcontracts
4.8 14.0
65.8%
WebTrading
51.2 40.6
25.9%
Total
1,471.7 1,755.6
16.2%
AVERAGERATEPERCONTRACT(BRL)
Product
BRLInt.ratecontracts
USDInt.ratecontracts
FXContracts
Indexbasedcontracts
Commoditycontracts
OTCcontracts
WebTrading
Total

1Q09

1Q08

0.886
1.554
2.422
1.572
2.077
2.192
0.185
1.345

1.102
1.078
1.850
2.132
3.283
2.057
0.155
1.401

11/12

Variation
1Q09/1Q08
(%)
19.6%
44.1%
30.9%
26.3%
36.7%
6.5%
19.4%
4.0%

OPERATIONALSTATISTICSBOVESPASEGMENT
AVERAGEDAILYTRADEDVALUE(BRLMILLION)

1Q09
3,906.2
3,622.5
283.7
66.6
217.1
1.8
3,908.1

StocksandEquityDeriv.
Cashmarket
Derivatives
Forwardmarket
Optionsmarket(stocks/indices)
Fixedincomeandotherspotsecurities
Total

1Q08
5,895.6
5,500.5
395.1
229.9
165.2
11.0
5,906.6

Variation
1Q09/1Q08
(%)
33.7%
34.1%
28.2%
71.0%
31.4%
83.6%
33.8%

AVERAGEDAILYNUMBEROFTRADES(THOUSANDS)

1Q09
278,324
216,645
61,678
937
60,742
8
278,331

StocksandEquityDeriv.
Cashmarket
Derivatives
Forwardmarket
Optionsmarket(stocks/indices)
Fixedincomeandotherspotsecurities
Total

1Q08
205,326
161,510
43,817
2,758
41,059
10.0
205,336

Variation
1Q09/1Q08
(%)
35.6%
34.1%
40.8%
66.0%
47.9%
23.7%
35.5%

1Q08
2,272.7
2,331.8
60,968.0
61,192.9
1,027.5
507.7

Variation
1Q09/1Q08
(%)
34.6%
38.2%
32.9%
35.1%
31.4%
7.9%

OTHEROPERATIONALSTATISTICS

EndofperiodMarketCap.(R$billions)
AverageMarketCap.(R$billions)
EndofperiodIbovespa
AverageIbovespa
Valueundercustody(R$billions)
Numberofcustodyaccounts(thousands)
SecuritiesLending
EndofperiodOpenInterest(R$billions)
Companieslisted
TreasuryDirectstockofsecurities(R$millions
TurnoverVelocity(annualized)

1Q09
1,485.7
1,441.5
40,925.9
39,717.0
704.9
547.8

9,829.6 21,523.8
432 451
2,659.7 1,471.6
61.8%
58.7%

TRADINGMARGINS(b.p.)

CashMarket

1Q09
5,9

1Q08
6,0

Derivatives

14,0

14,1

ForwardMarket

13,0

13,0

Optionsmarket(stocks/indices)

14,3

15,6

6,5

6,5

StocksandEquityDeriv.

12/12

54.3%
4.2%
80.7%