BM&FBOVESPA began trading today in three new Unsponsored Level I Brazilian Depositary Receipt (BDR NP) programs, issued by Bradesco S.A. BDR NPs are securities that depository institutions issue in Brazil, with the shares of foreign companies as underlying assets. With the new programs, the BM&FBOVESPA portfolio now has 234 programs with the underlying securities of foreign companies.
BDR NPs obtained average daily financial trading volume of BRL 15.2 million and a monthly average of BRL 1.7 billion to August 2016. BDR NPs grant investors exposure to international markets without the costs related to maintaining infrastructure abroad. They also allow the drawing up of sectorial, investment-diversification and arbitrage strategies between local and foreign markets.
The new programs that are authorized for trading as of today are:
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BM&FBOVESPA Starts Trading Three New Unsponsored Level I BDR Programs
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