BM&FBOVESPA Announces New Market Maker
OREANDA-NEWS. March 21, 2012. BM&FBOVESPA announced today that Citadel Securities LLC is the third institution that has been selected as market maker for options on the stock of Companhia Siderurgica Nacional S.A . (CSNA3). The market maker obligation will last for 12 (twelve) months as of April 09, 2012. The maximum volatility spread is 4%. The selected institution presented the lowest maximum volatility spread, which is defined as the percentage calculated on the basis of the ratio between the implied volatilities of the bid and offer prices.
Options on the stocks of Companhia Siderurgica Nacional will have three market makers, of which Credit Suisse International and Timber Hill LLC (selected in February) comply with a maximum volatility spread of 5% (five per cent) while Citadel Securities LLC will act as market maker complying with a maximum volatility spread of 4% (four per cent).
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