BM&FBovespa to Change Fees for Stock Trading in March, CEO SaysNey Hayashi
BM&FBovespa SA, the operator of Latin America’s biggest securities exchange, will change the fees it charges for stock trading to bring them closer to international prices, Chief Executive Officer Edemir Pinto said.
The new charges will be announced on Mar. 5, Pinto said in a meeting with analysts at BM&FBovespa headquarters in Sao Paulo today. He declined to give further details.
“The new pricing policy will be more adequate to the conditions in the Brazilian market,” Pinto said. The changes shouldn’t have an impact of BM&FBovespa’s earnings this year, he said.
Shares fell 1.9 percent to 13.27 reais at 1:57 p.m. in Sao Paulo today, the lowest on a closing basis in 10 weeks, after the exchange reported fourth-quarter profit that trailed estimates. Adjusted net income was 379.4 million reais ($193.4 million) in the three months ending in December, which compares with an average forecast of 396.2 million reais among six analysts surveyed by Bloomberg.