You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>BOVESPA</strong> <strong>Segment</strong> Performance<br />
Higher Volumes: increased market volatility and HFT activity growth<br />
44<br />
3Q11 Volumes<br />
• ADTV surged 11.7% over 3Q10<br />
• Greater HFTs share of overall volume<br />
(mainly foreigners, 3Q11 volume soared<br />
87% from 2Q11)<br />
• Market volatility positively impacted<br />
trading volumes<br />
10,00<br />
8,00<br />
6,00<br />
4,00<br />
2,00<br />
0,00<br />
ADTV and Margin<br />
6.16 6.11 6.02 5.86 5.71<br />
5.9<br />
6.8 6.7 6.2 6.6<br />
3Q10 4Q10 1Q11 2Q11 3Q11<br />
ADTV (R$ billions)<br />
Margin in bps<br />
HFT: ADTV and share of trading volume<br />
Average market capitalization and Turnover velocity<br />
10.3%<br />
48%<br />
0,0<br />
1,329.1<br />
7.4%<br />
0,0<br />
6.1%<br />
0,0<br />
898.6<br />
4.3%<br />
814.5<br />
835.1<br />
0,0<br />
87%<br />
318.6 447.3<br />
0,0 532.9<br />
0,0 160.0<br />
205.0 184.1 174.6<br />
181.5<br />
0,0<br />
191.4 290.8 267.2 319.3<br />
-<br />
Nov-Dec/10 1Q11 2Q11 3Q11<br />
retail - day trading (BRL millions)<br />
local institutions - day trading (BRL millions)<br />
fgn inv - day trading (BRL millions)<br />
% of overall market<br />
3,5<br />
3,0<br />
2,5<br />
2,0<br />
1,5<br />
1,0<br />
0,5<br />
-<br />
160,0%<br />
140,0%<br />
120,0%<br />
100,0%<br />
80,0%<br />
60,0%<br />
40,0%<br />
20,0%<br />
0,0%<br />
9.8 p.p.<br />
60.1% 61.8% 62.1% 59.7%<br />
69.5%<br />
2.3<br />
2.5 2.5 2.5 2.2<br />
3Q10 4Q10 1Q11 2Q11 3Q11<br />
Average Market Capitalization (BRL trillions)<br />
Turnover Velocity<br />
7<br />
5<br />
3<br />
1<br />
-
Change language