Sao Paulo Stock Market

The Sao Paulo Stock Market is the third largest stock market in the world. The Sao Paulo Stock Market is also known as Bovespa. Bovespa merged with the Brazilian Mercantile and Futures Exchange (BM&F), forming the company BM&F Bovespa. The Sao Paulo Stock Market was founded by Emilion Rangel Pestana in 1890. The Brazilian stock market was largely controlled by the government until the 1960s. Since then, technological advances have helped to make the Sao Paulo Stock Market one of the most successful in the world.

The Sao Paulo Stock Market was the first Brazilian stock market to use networks and computers for their services in 1972. The company was also the first Brazilian stock exchange to make use of a telephone trading system known as "Sistema Privado de Operações por Telefone" (SPOT), which translates to Private System of Telephone Trading. The Computer Assisted Trading System (CATS) was adopted in 1990, which made the Sao Paulo Stock Market an fully-electronic market. Mega was introduced in 1997, and was an efficient electronics system that allowed for faster processing and dissemination of information. The "After-Market" and "Home Broker" trading systems started operation in 1999. This allowed small and medium-size investors and companies to participate in trading and be part of the Sao Paulo Stock Exchange. Now, more companies are enlisted in the Sao Paulo Stock Market.