The B3 S.A. - Brasil, Bolsa, Balcão , formerly BM&FBOVESPA, is a stock exchange located in São Paulo, Brazil, and the second oldest of the country. At the end of 2011 it had a market capitalization of R$2.37 trillion, making it the 13th largest stock exchange in the world. However, owing to the slump in economic growth in Brazil associated with political problems, in addition to the strengthening of the United States dollar against the Brazilian real, the capitalization shrank to R$2.21 trillion by the end of 2015. On May 8, 2008, the São Paulo Stock Exchange and the Brazilian Mercantile and Futures Exchange merged, creating BM&FBOVESPA. Then at March 30, 2017, BM&FBOVESPA merged with CETIP, creating B3.
The benchmark indicator of B3 is the Índice Bovespa, more commonly known as Ibovespa. There were 381 companies traded at Bovespa as of April 30, 2008.On January 23, 2020, the Ibovespa index reached its record market closing above 119,527 points.B3 also has offices in Rio de Janeiro, Shanghai, and London.
