Commercial Policy Dedicated Technological Infrastructure Services. Version 0.1

Transcription

1 Commercial Policy Dedicated Technological Infrastructure Services Version 0.1

2 TABLE OF CONTENTS GLOSSARY INTRODUCTION Dedicated LINE Risk Engine Contracting by investors Contracting by participants Other dedicated trading infrastructure services How to hire FEE SCHEDULE Yearly adjustment Client Support... 8 XX/04/2015 2

3 CHANGE LOG Date Version Description Responsible area March 23, First version of document Front and Middle System Products 3

4 GLOSSARY Risk Engine A server which is integrated with B3 s trading platform and which enables trading participants to establish pre-trading limits and manage trades from investors in the markets managed by B3, also with possibility of suspension. Production Environment B3 s production environment where investors trades are executed and settled. High Availability A configuration setup that keeps the system resilient to hardware, software, and occasionally power failures, whose purpose is to make services available when one of the production components fails. Disaster Recovery - A set of computing resources and services that provides the necessary infrastructure in a contingency environment to enable recovery of the IT environment in the event of failures or disasters. Gateway Stacking - A process of transferring gateway instances from one production server to another server enabled to host gateways. 1 INTRODUCTION B3 s dedicated infrastructure service enables all clients to access its trading platform through the provision of the technological infrastructure responsible for execution of components such as FIX gateways of order entries, LINE Risk 4

5 Engines, relay servers, and other components that may come to be sold exclusively to your institution. The operational advantage over existing shared components allows participants or investors to trade equities, derivatives and fixed income products through computing resources dedicated to their institution, resulting in the elimination of competition for technological resources and mitigation of operational risks. 2 Dedicated LINE Risk Engine B3 s LINE Risk Engine is a tool that allows Full Trading Participants (PNPs) to set pre-trading limits and monitor trades from investors in the markets managed by B3. Its architecture enables investors to centralize pre-trading risk calculation of the entire order flow allocated to participants. The LINE Risk Engine assesses limits beforehand in order to authorize or not the order to the trading engine, as shown below: 5

6 Further information on the LINE 5.0 architecture and operation can be found in the LINE 5.0 Operating Manual at The service provided by the dedicated LINE Risk Engine comprises the installation of two servers in a production environment in the Santana do Parnaíba Data Center. Both servers will be responsible for the execution of the dedicated LINE Risk Engine of a given service contractor in High Availability configuration. For situations requiring B3 to run its own Disaster Recovery (DR) platforms in its secondary data center, the dedicated LINE Risk Engine will not function and the execution of the LINE Risk Engine of the service contractor will be shared with the rest of the market. It should be noted that B3 s option for this configuration was due to the exceptional and temporary circumstances imposed by the DR scenario. The dedicated LINE Risk Engine may be contracted by Full Trading Participants (PNPs) and Investors (institutional or foreign investors only) who trade in the markets managed by B3 (former BMF&BOVESPA segment). Below are the particularities of each contracting model. 2.1 Contracting by investors Within the scope of dedicated trading infrastructure services, the investor is the legal entity that participates as the holder of the trades carried out on their account and order through a Full Trading Participant. Under this contracting model, the investor may request B3 that their trades with any participant have the risk calculated by the LINE Risk Engine. It should also be noted that, in this situation, the investor is responsible for hiring the service with B3. 6

7 2.2 Contracting by participants Full Trading Participants (PNP), i.e., institutions holding access authorization for trading, according to B3's specific access rules and procedures, may contract the dedicated LINE Risk Engine and select those clients who will have their trades allocated to the contracted infrastructure. In this situation, the participant is responsible for hiring the service with B3. 3 Other dedicated trading infrastructure services B3 reserves the right to offer new dedicated infrastructure services in the future. The features and prices for such services will be informed in a timely manner. 4 How to hire The hiring of dedicated trading infrastructure services is included in the scope of the ACCESS MANUAL TO B3 S TECHNOLOGICAL INFRASTRUCTURE, which governs rights and duties related to hiring this service and others related to B3 s technology infrastructure and systems and services. The manual can be found at The term of adhesion must be signed in two counterparts and sent to the following address: Gerência de Desenvolvimento de Serviços Praça Antônio Prado, 48, 4ºandar Centro, São Paulo, SP, Brazil If the registration data of a participant wishing to hire the service is not updated or if contracting is done by an investor, it is also necessary to send the documents demonstrating the powers granted by the company to the legal representatives and/or attorneys-in-fact who are signing the term of adhesion. It should be noted that current subscribers to the term of adhesion do not have to sign it again. After signing, it is up to the client to electronically request dedicated 7

8 technological trading infrastructure services via a specific system available by B3 to subscribers. If it is not possible to use the system, the request can be sent to B3 s Front and Middle System Products by at salesdatacenter@b3.com.br or by telephone on FEE SCHEDULE Service Dedicated LINE Risk Engine Dedicated LINE Risk Engine Client type Service activation (R$) Monthly fee (R$) Service activation (USD)* Monthly fee (USD)* PNP 350, , , Investor 350, , , *Only available for Non Resident Investors. 5.1 Yearly adjustment and dollar prices adjustments Prices in Brazilian Reals contained in this Commercial Policy will be adjusted annually by the inflation rate measured by the National Broad Consumer Price Index (IPCA/IBGE). The prices in dollar may change depending on any fluctuations in the exchange rate. 6 Client Support Questions related to product billing can be sent to the Service Development Department by at BVMFSOLUTION@b3.com.br or by telephone on Questions related to product hiring should be sent to B3 s Front and Middle System Products by at salesdatacenter@b3.com.br or by telephone on

9 Technical inquiries should be sent to the Trading Support team by at or by telephone on option 2. 9