OREANDA-NEWS. January 25, 2013. BM&FBOVESPA announced the winning institutions in the competitive bidding process to select market makers for options on the stocks of Banco Bradesco S.A. (BBDC4), Gerdau S.A. (GGBR4) and Banco do Brasil S.A. (BBAS3), as well as options on the Ibovespa Index (IBOV). The institutions concerned will be obliged to act as market makers for 12 months starting on February 14, 2013.

The institutions Optiver V.O.F., Credit Suisse International and Citigroup Global Markets Limited will act as market makers for options on the stock of Banco Bradesco S.A. (BBDC4), and will be obliged to operate with a maximum spread of 0.03 Brazilian Reais (BRL 0.03).

For options on the stock of Gerdau S.A. (GGBR4), the institutions selected were Optiver V.O.F, Credit Suisse International and Timber Hill LLC, which will act as market makers with a maximum spread of 0.03 Brazilian Reais (BRL 0.03).

Optiver V.O.F., Credit Suisse International and Citigroup Global Markets Limited will act as market makers for options on the stock of Banco do Brasil S.A. (BBAS3), with a maximum spread of 0.03 Brazilian Reais (BRL 0.03).

The institutions Optiver V.O.F, Banco Itau BBA S.A. and Timber Hill LLC will act as market makers for options on the Ibovespa Index (IBOV) and will be obliged to operate with a maximum spread of 20 points of the Ibovespa for the first and second contract months and with a maximum spread of 49 points of the Ibovespa for the third contract month.

The institutions selected were the ones that bid the lowest maximum spreads between bid and ask prices. BM&FBOVESPA’s market maker program aims to stimulate growth in options trading by bolstering the liquidity of other underlying assets in the Bovespa segment besides Petrobras and Vale.