BVMF Presentation - August 2013

7/27/2019 BVMF Presentation - August 2013

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BM&FBOVESPAGrowth story

Investor Relations Department August 2013


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Forward Looking Statements

This presentation may contain certain statements that express the managements expectations, beliefs and

assumptions about future events or results. Such statements are not historical fact, being based on currently

available competitive, financial and economic data, and on current projections about the industriesBM&FBOVESPA works in.

The verbs anticipate, believe, estimate, expect, forecast, plan, predict, project, target and other

similar verbs are intended to identify these forward-looking statements, which involve risks and uncertainties that

could cause actual results to differ materially from those projected in this presentation and do not guarantee any

future BM&FBOVESPA performance.

The factors that might affect performance include, but are not limited to: (i) market acceptance of BM&FBOVESPA

services; (ii) volatility related to (a) the Brazilian economy and securities markets and (b) the highly-competitive

industries BM&FBOVESPA operates in; (iii) changes in (a) domestic and foreign legislation and taxation and (b)

government policies related to the financial and securities markets; (iv) increasing competition from new entrants

to the Brazilian markets; (v) ability to keep up with rapid changes in technological environment, including the

implementation of enhanced functionality demanded by BM&FBOVESPA customers; (vi) ability to maintain an

ongoing process for introducing competitive new products and services, while maintaining the competitiveness of

existing ones; (vii) ability to attract new customers in domestic and foreign jurisdictions; (viii) ability to expand the

offer of BM&FBOVESPA products in foreign jurisdictions.All forward-looking statements in this presentation are based on information and data available as of the date

they were made, and BM&FBOVESPA undertakes no obligation to update them in light of new information or

future development.

This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall

there be any sale of securities where such offer or sale would be unlawful prior to registration or qualification

under the securities law. No offering shall be made except by means of a prospectus meeting the requirements of

the Brazilian Securities Commission CVM Instruction 400 of 2003, as amended.


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HISTORY, BUSINESS MODEL AND CORPORATE GOVERNANCE

BRAZILIAN MARKET OPPORTUNITIES

MAIN GROWTH INITIATIVES

OPERATIONAL PERFORMANCE

FINANCIAL HIGHLIGHTS

APPENDIX (includes results for 2Q13)


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HISTORY, BUSINESS MODEL AND CORPORATE

GOVERNANCESafety, resilience and transparency


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1890:

Foundation of Bolsa

Livre (BOVESPA's

predecessor)

1986:

Start of

BM&F

activities

Aug 2007:

BOVESPA Hld

demutualization

Sep 2007: BM&F

demutualization

Oct 2007:

BOVESPA Hld

IPO (BOVH3)

Nov 2007:

BM&F IPO

(BMEF3)

May 2008:

integration between BM&F and

BOVESPA Hld and creation of

BM&FBOVESPA (BVMF3)

1967:

BOVESPAs

Mutualization

MARKET CAPITALIZATION (US$ billion) AND OPERATING MARGIN (%)

12M to Jun. 28, 2012. 12M to Mar 31, 2012. 9M to Sep. 30, 2012. Source: Bloomberg (Jul. 31, 2013).

History of BM&FBOVESPAImportant global exchange

24.717.9 13.6 13.3 10.6 10.2 6.5 6.4 6.0 5.4 4.1

2.4 2,3

58.1%

70.7%

60.7% 56.6%63.0%

26.2%

72.4% 56.2%

53.5%

41.5%

56.3%

34.9%

66,6%

CME HKEx Deutsche

Boerse

ICE BVMF Nyse

Euronext

LSE SGX ASX Nasdaq Moscow

Exchange

TMX BME

Oper. Margin (2012)Diversi fiedand integrated Integrated (Derivatives) Diversi fied but not integrated


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PRE-TRADING TRADING POST-TRADE

Access TradeAllocation

Transfer

Clearing/risk

analysis

Position/

CollateralDepository

Auxiliary

Services

VALUE CHAIN

Vertically integrated

Trading Platform: equities, derivatives, government and

corporate bonds, funds, spot FX, among others

Post-Trade Platform:

Central Counterparty (CCP) : An entity that interposes itself

between operations or contracts, becoming the guarantor of all

business

Settlement System (SSS): system that allows the transfer of

securities or assets from investors, in which the transfer may be

free or against payment

Central Depository (CSD): performs centralized asset custody and

treatment of corporate actions (dividends, stock splits, etc.)

Services for issuers and brokers Listing (stocks, funds, corporate bonds,

securitization, among other)

Trading access (brokers)

Securities Lending

Custody for clubs and foreign investors

(2.689 account)

Market Data (vendors)

Indices Licensing

Software Licensing

OTC (derivatives and fixed income)

Commodities certification

Vertical model as a differentialValue gained across most of the chain

SettlementRisk Analysis

(DMA)Risk Analysis


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DTCC

BRAZIL

(Internalization of orders is forbidden)

US

(Internalization of orders is allowed)

Post tradeCCP

SSS

CSD

Trading

Brokers

A and B

Investors Investors

Brokers A and B

Investors Investors

Broker

A

Broker

B

Model 100% vertical: clearing, settlementand central depository at the final beneficial

owner level

Brokers settle positions and control theirclients portfolios through BM&FBOVESPAs

infrastructure (impact on post-trade fees)

Clearing, settlement and custody occur at thebrokerage houses

Each prime broker has its own structure tocontrol its customers portfolios and settle

positions (impact on the prime brokers costs)

Trading Venues

Vertical model as a differentialBM&FBOVESPA present at all post-trade stages


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Brokerage

houses &

investors

Trading

Post-Trade

Regulations prohibit internalization of orders, dark pools

and ATS/MTFs and simultaneous exchange/OTC equities

trading

Settlement and clearing of equities trading must be done

through a CCP

Settlement and clearing at the final beneficial owner level

make the Brazilian market safer and more resilient

Under the prevailing regulations, potential competitors

must provide an integrated solution with the same status

regarding rules and transparency

In Brazil the final investor pays the exchange: compared to

other markets we have a competitive all-in-cost, as

BM&FBOVESPA provides more services than other

exchanges

Naked access is not allowed

Naked short selling is not possible

Brazilian market regulatory frameworkResilience and safety as priorities


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EXECUTIVE OFFICERSBOARD OF DIRECTORS

COMMITTEES

Edemir PintoCEO

Luis Furtado

CIO

Ccero Vieira

COO

Daniel Sonder

CFO

Eduardo Guardia

Chief Product / IRO

Audit Committee

Risk Committee

Nominations and Corporate Governance Committee

Compensation Committee

Corporate GovernanceMultidisciplinary knowledge in conducting business

Charles Carey

Independent Director, Director of CME Group

Jos Roberto Mendona de Barros

Independent Director, economist and professor

Pedro Parente (Chairman)Independent Director, CEO of Bunge Brasil

Marcelo Trindade (Vice Chairman)

Independent Director, lawyer

Claudio Haddad

Independent Director, engineer and professor

Andr Esteves

Non Executive Director, CEO of BTG Pactual

Alfredo Antnio Lima de Menezes

Non Executive Director, Executive Officer of Bradesco

Luiz Fernando Figueiredo

Independent Director, Co-Founder of Mau Investments

Luiz Nelson Guedes De Carvalho

Independent Director, professor

Candido Bracher

Non Executive Director, CEO of Ita BBA

Jos Berenguer Neto

Non Executive Director, CEO of JP Morgan Brazil

Advisory Committee For The Securities Intermediation Industry


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GM of 04/15/2012

Number of individual shareholders 55,108

Number of institutional shareholders 3,580

Total number of shareholders 58,688

Free float (ON) 1,929,265,010 (97.4%)

Ownership structureWidely-held shareholder base

5.3%5.2%

5.1%

6.6%

75.5%

2.4%Funds managed by BlackRock, Inc.

Funds managed by OppenheimerFunds, Inc.

CMEG Brasil I Participaes Ltda.

Funds managed by Vontobel Asset Management Inc.

Other

Treasury stock


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Opportunities in the Brazilian marketBM&FBOVESPA prepared to capture future growth

Source : Central Bank of Brazil and World Bank. * For Brazil, considers only bank credit.

GROWTH DRIVES

EQUITIES MARKET

lower interest rates => opportunity for diversification with investmentsin equities from institutional investors

more resources being directed into equities

more listed companies

DERIVATIVES MARKET

more credit and more in fixed-rate government debt => more demand

for hedging from financial institutions lower interest rates=> longer maturities of traded contracts

more foreign trade => higher volumes in FX contracts

stock market growth, the launch and development of ETFs and moreexposure to equity among institutional investors =>growth in Index-basedcontractsCAPITAL MARKETS WILL HAVE

CENTRAL ROLE IN THE COMING YEARS

Investmentneeded topromotegrowth

Nationalsavings still

highlyconcentrated

in fixedincome

Interest ratesat the lowest

in history

Total Credit/GDP Evolution in Brazil (%) Selic Interest Rate (% p.a.). Jan-07 to Jun-13

27.4%

55.2%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

13.2511.25

13.75

8.7510.75 11.00

7.25 8.50

2007 2008 2009 2010 2011 2012 2013


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Capital MarketGreat opportunities in the equities and derivatives segments

Funds AUM evolution (in BRL billion). Global average of 40% for

equities

LISTED COMPANIES

Source : BM&FBOVESPA, ANBIMA , WFE (Dec-12) and ABRAPP.

INVESTMENT FUNDSNUMBER OF CUSTODY ACCOUNTS (thousand)

PENSION FUNDS

Number of retail investors represents only 0.3% of the

population (lower than global average)

Lower number of listed companies in comparison withother countries

Participation of equities in the portfolio of pension funds

6,856

4,916

4,041 3,9723,481 3,200

2,7672,056 1,784

364

India USA China/HK Canada Japan Spain UK Australia Korea Brazil

657861 899

1,0701,301

1,5131,375

1,703 1,7871,925

2,189 2,266

11%

10% 11%11%

15%22% 14%

18% 18%15%

14% 14%

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1Q13

Equities

Fixed Income

168216 256

295352

436 419492

538 574619

28%29% 30%

31%33% 37% 28%

33%33%

30%29%

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Fixed Income and Others

Equity

Jan'05

128.6

Jul'13

659.3

Jan-0

5

Jul-05

Jan-0

6

Jul-06

Jan-0

7

Jul-07

Jan-0

8

Jul-08

Jan-0

9

Jul-09

Jan-1

0

Jul-10

Jan-1

1

Jul-11

Jan-1

2

Jul-12

Jan-1

3

Jul-13


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STOCK OF FIXED-RATE CREDIT (BRL billion) PUBLIC DEBT / FIXED RATE (BRL billion)

Source: Central Bank of Brazil

Interest Rate Contracts in Brazilian RealsStructural changes behind the growth in volumes

more credit increases the banks demand for financialderivatives on BM&FBOVESPA

more fixed-rate debt increases banks andinstitutional investors demand for futurescontracts on BM&FBOVESPA

INTEREST RATES IN BRL: ADV PER CONTRACT MONTH (million contracts)

longer maturities of contracts

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12

Jan'05:

BRL 180.0

Dec'12:

BRL 850.9

CAGR: -1%

CAGR: +30%

CAGR: +16%

0.33 0.48

0.860.94

0.47

0.840.62 0.47

0.78 0.78

1.79 1.71

0.95 0.96

1.64 1.72

2.26 2.55

2Q08 2Q09 2Q10 2Q11 2Q12 2Q13

1st-4th Maturity 5th Maturity Total

Mar-05Mar-06Mar-07Mar-08Mar-09Mar-10Mar-11Mar-12Mar-13

Jan'05:

BRL 151.4 bn

Jul'13:

BRL 780.5 bn


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Operating

Leverage

Significant investments

in technology and the

quest for greaterefficiency (cost control)

Strengthening of

regulatory and

institutional

structure

Focus on clients:

development of

markets and products

Falling interest rates

Strong need for

investments to

promote growth

Investments

portfolios still

concentrated in highliquidity fixed

income products

High Potential

for Revenue

Growth

Sustainable Results

(Maximization of Shareholders Return)

External

Factors

BM&FBOVESPA

Strategic

Focus

BM&FBOVESPAWell positioned to capture and generate growth


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MAIN GROWTH INITIATIVES

Investments, new products and focus on thecustomer


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Update of strategic projects

*IPN/CORE implementation requires the authorization of the regulators.

PUMA Trading System - Multi-Asset Trading Platform A high-performance, high-speed and high-capacity electronic trading platform

RTT (Round Trip Time) of less than one millisecond

Derivatives and FX module: implemented in Oct/11

Equities module: implemented in Apr/13

Clearinghouses integration The integration of BM&FBOVESPAs clearinghouses will enhance the Companys competitive position

Development of the new risk architecture (CloseOut Risk Evaluation - CORE)* will increase allocation

efficiency for clients

Tests for derivatives started in Jul/13, with conclusion scheduled for Mar/14

iBalco OTC Registration Platform Registration of OTC derivatives and fixed income securities

Deployment in Jul/13 (for FX non-deliverable forward no central counterparty)

Pricing Policy Changes for Cash Equities First phase (Apr/13): reduction from 0.7 bps to 0.5 bps in trading fees and a realignment between the

trading fees and post-trade fees of institutional investors and day traders

Second phase (Dec/13): increased discounts per tier of volume for day traders and a progressive reductionof trading fees per tier of global volume

Initiatives for Small and Medium Enterprises (SMEs) Establishment of the Technical Committee for Smaller Offerings composed of private sector and

government agencies

Developing proposals to facilitate capital raising through issuance of shares (incentives to SMEs, investors

and intermediaries)

Project was presented to the Ministry of Finance in Jul/13


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BM&FBOVESPA IT DevelopmentsBuilding a world-class IT platform

Increasing competitive differentiation for derivative andcash equity markets

Latency

BM&F Segment (derivatives) BOVESPA Segment (equities)

70

2520

10-15~1 ~1


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BM&FBOVESPA Product DevelopmentUpdating the OTC and Fixed Income platforms

Certification phase (integrated test with the market) of NDFs in Calypso platform started in Feb13

Deployment in 1Q13

Developments that should be concluded over the next 18 months

Derivatives Fixed income

Registratio

n

NDFs

Swaps

Flexible options

Exotic derivatives

Continuous development of the Calypsoplatform and introduction of new features

LCAs (improvements)LCIs and CDBs (adaptation of the platform

pending regulatory approval)

Trading

-

Trading platform for government andcorporate bonds

Fixed income ETFs (pending regulatoryapproval)

Changes in the fee policy

Changes in the securities listing procedures

and rules

Cl i h I i


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Clearinghouses IntegrationFurther differentiation in BM&FBOVESPA post-trade

Equities and corporate

debt (BRL 85.2 bn*)

Equities, ETFs andcorporate fixed incomecash market

Equity and indicesderivatives (options andforward)

Securities lending

Derivatives

(BRL 111.2 bn*)

Financial andcommodities derivatives(futures, options andforwards)

OTC derivatives

FX

(BRL 4.8 bn*)

FX spot market

(US$ vs. BRL )

Securities

(BRL 1.0 bn*)

Cash market andforward market forgovernment bonds

INTEGRATED CLEARINGHOUSE**=

Capital efficiency

* Aggregate of pledged collateral at our clearinghouses totaled BRL 202.2 billion in Jun. 30, 2013. **IPN/CORE implementation requires the authorization of the regulators.

i h h d


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0.9 1.53.7

14.6

37.6

2009 2010 2011 2012 2013*

12.720.5

30.2 31.944.1

2009 2010 2011 2012 2013*

18.6 28.548.7

115.9 106.4

2009 2010 2011 2012 2013*

2.9 3.96.1

9.0 9.7

2009 2010 2011 2012 2013*

48.8

75.6

ADTV before

Market Maker

ADTV after

Market Maker*

Securities LendingReal Estate Funds (FIIs)Options with Market Maker

(Open Interest - average for the period - in BRL billion)

Initiatives to develop and prompt higher volume in certain products;

Performance shows that the initiatives are being well received by the market.

ETFs Brazilian Treasury Direct - Tesouro Direto Agribusiness Credit Bills

(ADTV in BRL million)

+55.0%

(ADTV in BRL million)

(ADTV in BRL million) (Custodyin BRL billion)

High growth productsGrowing sophistication of market participants

BM&FBOVESPA has a 66% marketshare of the registered AUM (Mar-13).

CAGR(09-13):

+152.0%

CAGR (09-13):

+36.5%

CAGR (09-13):

+54.6%

CAGR (09-13):

+35.2%

*Updated to Jul. 31, 2013.

(AUM in BRL billion)

3.6 20.0

43.7

2011 2012 Jul-13


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OPERATIONAL PERFORMANCE

Records in 2013

BOVESPA S


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BOVESPA SegmentOperational highlights

*Updated to Jul 31, 2013. **Ratio of cash market trading volume to the market cap of the exchange.

AVERAGE DAILY TRADING VOLUME ADTV (BRL billion)

AVERAGE ANNUAL MARKET CAP(BRL trillion) TURNOVER VELOCITY** (12 months average)

1.6 2.4

4.9 5.5 5.36.5 6.5 7.3

7.6 8.26.0

7.28.4

6.7 6.6

7.9

7.3 7.8 7.4 8.2 7.78.9

6.0

2005 2006 2007 2008 2009 2010 2011 2012 2013 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13

30.8%

29.4%

36.8%37.6%38.7%42.3%

56.4%

63.2%

66.6%

63.8%

64.2%

70.0% 72.6%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

0.720.94

1.31

1.98 2.031.83

2.33 2.37 2.42 2.41

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013*

T di i ADR f B ili i


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Trading in ADRs of Brazilian companiesLiquidity Migration Process Interrupted

Jul13

Source: Bloomberg (in USD

traded value of 35 companies

with ADRs programs )

Sarbanes-Oxley Act(Jul. 2002)


Novo Mercado

Launch

(Dec. 2000)

PUBLIC OFFERINGS IN NUMBER OF COMPANIES

End of IOF Tax (2%) for

foreign investors

(Dec. 2011)

End of CPMF

(Financial

Transaction Tax)

33.7%

30.2%

12.0%

24.1%

36.1%

63.9%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Total

IPOs - 1 - 7 9 26 64 4 6 11 11 3 7 149

Follow ons 14 5 8 8 10 16 12 8 18 11 11 9 5 135

Total 14 6 8 15 19 42 76 12 24 22 22 12 112 284

Dual Listings - - - 2 1 1 - - 1 - - - - 5

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Jan-1

2

Feb-1

2

Mar-12

Apr-12

May-1

2

Jun-1

2

Jul-12

Aug-1

2

Sep-1

2

Oct-12

Nov-1

2

Dec-1

2

Jan-1

3

Feb-1

3

Mar-13

Apr-13

May-1

3

Jun-1

3

Jun-1

3

Other USA Venues - Brazilian ADRs NYSE - Brazilian ADRsBM&FBOVESPA - companies with ADRs BM&FBOVESPA (except companies with ADRs)

BM&F S t


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BM&F SegmentOperational highlights

AVERAGE DAILY TRADED VOLUME ADV (thousands of contracts)

REVENUE PER CONTRACT - RPC (BRL)


2006 2007 2008 2009 2010 2011 2012 2013* J-12 A-12 S-12 O-12 N-12 D-12 J-13 F-13 M-13 A-13 M-13 J-13 J-13

Interest rates i n BRL 0.906 0.950 1.141 0.979 0.889 0.918 1.004 0.989 1.026 1.076 1.130 0.924 1.044 1.037 1.032 1.013 1.037 0.945 0.843 1.099 1.067

FX rates 2.244 1.859 2.065 2.161 1.928 1.894 2.205 2.416 2.325 2.453 2.481 2.506 2.370 2.453 2.368 2.305 2.273 2.292 2.347 2.590 2.691

Stock Indices 1.419 1.501 2.145 1.620 1.564 1.614 1.524 1.698 1.403 1.750 1.407 1.752 1.400 1.981 1.547 1.974 1.413 1.846 1.408 1.867 1.590

Interest rates i n USD 1.094 0.965 1.283 1.357 1.142 0.941 1.015 1.152 1.143 1.027 1.086 1.024 1.164 1.152 1.073 1.140 1.121 1.093 0.928 1.280 1.370

Commodities 4.749 3.195 3.587 2.307 2.168 2.029 2.239 2.490 2.014 2.270 2.840 2.680 2.485 3.360 2.449 2.415 2.382 2.349 2.550 2.595 2.632

Mini contracts 0.034 0.054 0.162 0.176 0.128 0.129 0.116 0.118 0.111 0.110 0.109 0.112 0.107 0.112 0.120 0.122 0.119 0.118 0.116 0.119 0.114

OTC 1.571 2.111 2.355 1.655 1.610 1.635 1.769 1.594 1.523 2.693 1.139 1.738 1.711 2.475 1.988 2.868 1.642 1.460 1.428 1.418 1.839

Total RPC 1.247 1.224 1.527 1.365 1.134 1.106 1.191 1.194 1.222 1.277 1.314 1.098 1.242 1.303 1.266 1.191 1.190 1.114 1.020 1.361 1.320

422 501 711988 789 843

1,684 1,797 1,9262,340

2,.6811,561 1,866

1,723

1,7102,199 1,747 1,856

1,5612,630

2,235 2,6942,994

1,977110 168

266

473535 447

541 496494

511

520485

425 451

327

476 547474

494

491

468507

635

435

86 7468

112 88 80

89 123143

120

158106

137 111123

99113

84

126

100

145105

183

99

187 109124

167162 150

191285

336376

350362

345 355322

331340

290

341

341

352424

495

389

805 852 1,167

1,740 1,573 1,521

2,5052,701

2,8993,210

2,5902,819

2,630 2,6262,971

2,6532,856

2,410

3,5913,166

3,6583,980

3,290

2,443

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013* Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13

BRL Int. Rate (Thousands) FX (Thousands) Index (Thousands) Others (Thous ands)

Investor participation in volumes


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Investor participation in volumes

Equities and derivatives segments

BM&F SEGMENT (DERIVATIVES)

BOVESPA SEGMENT (EQUITIES)

56% 51% 49% 48% 45% 42% 38% 34% 33% 33% 29% 31% 32%37% 32% 34%

12% 15% 17% 19% 20% 22% 23% 25% 25% 23% 25% 26% 26%26%

25% 23%

24% 25% 23% 23% 24% 30% 33% 34% 37%38% 41%

38% 37% 32%

36% 35%

7% 7% 9% 8% 8% 4% 4% 5% 4% 4% 3% 4% 4% 4% 5% 6%

2005 2006 2007 2008 2009 2010 2011 2012 2013 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13

Individuals Institutional Investors Foreign Investors Financial Institutions Companies Central Bank

25% 25% 23% 27% 31% 26% 21% 18% 16% 17% 16% 18% 15% 16% 13% 16%

27% 27% 30% 27%26% 33%

33% 32% 33% 35% 33% 32% 32% 32% 33% 32%

33% 36% 35% 35% 34%30% 35% 40% 42% 40% 41% 43% 42% 44% 44% 45%

12% 10% 10% 8% 7% 8% 9% 8% 8% 8% 9% 7% 9% 7% 8% 6%

2005 2006 2007 2008 2009 2010 2011 2012 2013 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13

Individuals Institutional Investors Foreign Investors Financial Institutions Companies Others


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FINANCIAL HIGHLIGHTS

Reduction in expenses. Return to shareholders

Income Statement


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28

Income StatementHistory

SUMMARY OF INCOME STATEMENT (CONSOLIDATED)

(in BRL thousand) 2009 2010 2011 2012

Net revenue 1,510,569 1,898,742 1,904,684 2,064,750

Expenses (569,832) (633,504) (816,664) (763,080)Adjusted expenses (446,677) (543,881) (584,521) (563,487)

Operating income 940,737 1,265,238 1,088,020 1,301,670

Operating margin 62.3% 66.6% 57.1% 63.0%

Equity method result - 38,238 219,461 149,270

Financial result 245,837 289,039 280,729 208,851

Income before taxation of profit 1,186,574 1,592,515 1,588,210 1,659,791

Income tax and social contribution (304,505) (448,029) (539,681) (585,535)

Net income* 881,050 1,144,561 1,047,999 1,074,290

Adjusted net income 1,223,761 1,586,374 1,545,627 1,612,136

Adjusted EPS (BRL ) 0.6104 0.7929 0.7932 0.8351

*Attributable to shareholders of BM&FBOVESPA.

Revenue and expenses breakdown


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9.0%

29.5%

5.7%37.1%

18.7%

Cash Market (Trading)

Cash Market (Post-Trading)

Equities Derivatives (Trad. and post-trad.)

Financial Derivatives (Trad. and post-trad.)

Other Revenues

REVENUE BREAKDOWN (2012)

Gross Revenue:

BRL 2,289.0 million

Revenue and expenses breakdownDiversified revenue sources as a differential, costs under control

EXPENSES BREAKDOWN (2012)

4.5%: Depository, Custody and Back-Office

3.4%: Securities Lending

3.0%: Vendors

2.3%: Trading Access (Brokers)2.0%: Listing

46.4%

13.5%

12.3%

6.7%

2.5%

18.6%

Personnel

Data processing

Deprec. and Amortization

Third Party Services

Marketing

Others

Adjusted Opex and Capex Budgets


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30

Adjusted Opex and Capex BudgetsFocus on cost control and investments phase

Focus on cost control: in 2013, the effects of inflation will be neutralized by efficiency gains

2010-2013E: Adjusted expenses decreasing in real terms (CAGR of 1.6% p.a.)2013 Budget: BRL 560 million-580 million, the same range as in 2012

1 Adjusted by depreciation, stock option program, tax on dividends from CME Group and provisions. Expenses growth considering the mid-point budget for 2013

(BRL 570 million) and inflation CAGR (2010-2013) of the inflation is 5.8% p.a. Source: BCB Focus Bulletin (Nov. 30, 2012) - estimated IPCA .

(in BRL million)

ADJUSTED OPEX

CAPEX

(in BRL million)

2013 Budget: BRL 260 million-290 million

2014 Budget: BRL 170 million-200 million Investments close to BRL 1.2 billion between 2010 and 2014 in several projects

544 585 564

560-580

2010 2011 2012 2013E

268 204 258

260-290170-200

2010 2011 2012 2013E 2014E

Growth Path


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31

(in BRL million)

(in BRL)

GROWTH IN ADJUSTED EARNINGS PER SHARE

GROWTH IN REVENUES AND RESULTS

Growth PathGrowth in business and results

Financial Highlights


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32

7051,145 912 1,074

75

435 606 16780

1,579 1,518

1,091

2009 2010 2011 2012

Total payout Buyback

Financial HighlightsFocus on cash generation and total shareholder return

HISTORY OF PROCEEDS

SHARE BUYBACK: MAXIMIZING RETURN

(in BRL millon)

(in BRL million)

*Dividend Yield is the result of the sum of earnings per share distributed during the year divided by the average share price during the year. ROIC: Return on Invested Capital.

1,612Adj. Net

income1,5461,5861,224

1,074 Net income1,0481,145881

432841 762 984

274

304150

90705

1,145912

1,0743.4%

4.5%4.5%

4.8%80%

100%87%

100%

2009 2010 2011 2012

Dividends Interest on capital Dividend Yield* Payout ratio (%)

8.9% ROIC8.4%9.4%8.3%


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33

APPENDIX


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34

IOFs

10/17

R$14.97Goodwill

11/30R$13.01

Competition

News

01/05

R$13.10

Rumors

about IOF

Exchanges Mergers

02/08R$11.18

BATs

02/15R$11.43

Reductions of Volumes

Estimates by the Market

New IOF on

Derivatives

07/26

R$9.55

Direct Edge

11/21R$10.11

Removal of

IOF on Equities

12/01

R$10,54

Aug-10

Sep-10

Oct-10

Nov-10

Dec-10

Jan-11

Feb-11

Mar-11

Apr-11

May-11

Jun-11

Jul-11

Aug-11

Sep-11

Oct-11

Nov-11

Dec-11

Jan-12

Feb-12

Mar-12

Apr-12

May-12

Jun-12

Jul-12

Aug-12

Sep-12

Oct-12

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

Apr-13

May-13

Jun-13

Jul-13

BM&FBOVESPA IBOVESPA

Oxera's Report

Release

06/18

Change of IOF

on foreign

exchange

transactions

06/14

Updated to Jul. 31, 2013.

BVMF3 YTD: -12.1%

IBOVESPA YTD: -20.9%

BVMF3 Recent performance



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35

Different earnings impact the P/E calculation and distort comparisons and market consensus

The reported adjusted net income reflects better the companys cash generation

1 Excludes the investment in associate (CME Group) accounted under the equity-method. 2 Simulates the Interest on Capital amount that would be approved if

there was no goodwill tax benefit; 3 Stock at R$13.79 (March 12 th, 2013).

EPS 2012 P/E3

Estimated GAAP EPS (A) 0.56 24.8

Earnings without goodwill = (A) x :1,142 0.64 21.7

Stock price discounted by goodwill NPV

(R$1.00 per share) / Earnings without

goodwill

0.64 20.1

Adjusted Earnings 0.84 16.5

15-20% impact on P/E multiple

Difference between GAAP EPS and

the EPS adjusted to non existence of

goodwill simulation

GAAP Book in 2012Current

Simulation without

goodwillR$ millions

EBT 1,511 1,511

Deferred Tax 539 -

Other taxes /credits (14) -

Total taxes 525 282

GAAP Net income 1,074 1,228 : 14.2%

Tax Book in 2012Current

Simulation

without goodwillR$ millions

EBT 1,511 1,511

(-) Goodwill amortization 1,586 -

(-) Interest on capital 90 680(2)

(=) Taxable earnings (165) 831

Tax (34%) (56) 282

Since 2009, the goodwill tax benefit has been recognized as deferred liability (being cashneutral), reducing the GAAP earnings

Financial HighlightsP/E analysis

BOVESPA Segment


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36

PUBLIC OFFERINGS (BRL billion)

PIPELINE: OFFERINGS ANNOUNCED SO FAR TO THE MARKET

Updated to Jul. 31, 2013.

BOVESPA SegmentRaising Capital

There are 5 offerings in the pipeline

IPOs (4): Unidas; Azul; Ouro Verde Locao e Servio; e Votorantim Cimentos

Follow-ons (1): Tupy.

Additionally, there are 20 Real Estate Funds filed with CVM: estimated value of R$ 3.7billion

* Excludes the portion acquired by the Brazilian government in the Petrobras offering, via the transfer of rights in barrels (BRL 74.8 billion).

4.3 8.5 15.1 14.526.8 22.2

63.2

10.8 9.3 2.74.55.4

15.4

55.6

7.5 23.8

11.2

7.2 3.9 15.68.8

13.9

30.4

70.1

34.346.0

74.4

18.0 13.218.3

2004 2005 2006 2007 2008 2009 2010* 2011 2012 2013

Follow-On

IPO

BOVESPA Segment


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37

BOVESPA SegmentForeign investment flow

MONTHLY NET FLOW OF FOREGIN INVESTMENTS (in BRL billon)

Includes public offering (primary market) and regular trades (secondary market).

Updated until Jul. 31, 2013.

0.4

1.7

(1.3)

1.8

3.4

1.9 2.2

(0.4)(0.2)

0.8 1.0

(2.4)

7.2

(1.1)(1.3)

2.9

(2.3)

(0.3)

0.61.1

(4.2)

(1.2)

0.7

4,9 4.9

2.6 1.6

7.6

(1.2)

(3.8)

0.1

BOVESPA Segment


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38

11.2%

14.3%

2.2%

5.1%

20.4%

5.4%

0.4%5.5%

8.8%

26.8%

Oil, Gas and Biofuels Basic Materials Capital Goods and Service s Construction and TransportationConsumer Non Cyclical Consumer Cyclical Information Technology Telecommunications

Public Utilities Financial

15.7%

21.6%

2.5%

3.6%

8.6%

2.6%

0.3%11.1%

11.5%

22.4%

BOVESPA SegmentPotencial to increase the number of listed companies

177%

126% 121%

109%100%

136%

67%75%

87%

72%

129%

100%

39%

174%

137%

158%

119%107%

129%

75% 76%

96%

72%

138%

80%

44%

129%

110% 109%104%

89% 87%

60%57% 55% 50% 49% 46%

35%

Singapore Canada Chile USA Korea Australia Japan France India Brazil UK China Mexico

2009 2010 2011

MARKET CAPITALIZATION TO GDP (%)*

MARKET CAPITALIZATION BY ECONOMIC SECTOR * Source: World Bank

Dec05 Dec12

Hong Kong : 438% 481% 365%

High Frequency Trading (HFT)


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39

High Frequency Trading (HFT)

BOVESPA SEGMENT: HFT ADTV (BRL million) AND MKT. SHARE

BM&F SEGMENT: HFT ADV (thousands of contracts) AND MKT. SHARE

*Updated to Jul. 31, 2013

*

*

319447

835 917 8741.186 1.044

830 927876 1.024291

267

319 249 325

268252

233296

256221

205184

175 146 -74

341369

667312

814 899

1,329 1,3121,199

1,454 1,369 1,4041,592

1,8001.557

6.1% 7.4%10.3% 10.3% 8.5% 9.4% 9.8% 9.9% 10.6% 10.7%

13.5%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

ADTV (Foreigners) ADTV (Individuals) ADTV (Institutionals) % of overall market

84 95179 146 135 193

209 209 191270 25767 101

148120 129

137 74 45 53

78 82

4445

6851 47

6558 53 48

70 60211

251

420342

413 404342 307 292

418 399

3.9% 5.0%7.8% 7.3% 8.0% 6.3% 6.7% 5.7% 5.0% 6.0%

8.6%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

Mini FX Equities Other % of overall volume

R l F k


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40

CLEARINGHOUSES ACTIVITIES

Law 10.214 of Mar. 27, 2001 Clearinghouses considered systemically important by

the BCB should ensure settlement (i.e., act as CCPs)

BCB Resolution 2.882 of Aug. 30, 2001

Clearinghouses shall guarantee, at least, settlement

of the highest net amount owed

Access criteria must be public and allow wide

participation

Circular BCB 3.057 of Aug. 31, 2001

Rules, manuals and safeguard mechanisms must be

approved by BCB

Maintenance of a secondary data center and

contingency procedures

Supervision by BCB

CVM Instruction 441 of Nov. 10, 2006

Securities lending with guaranteed settlement - final

beneficiary model

STOCK EXCHANGE ACTIVITY

CVM Instruction 461 of Oct. 23, 2007

Regulates the security markets and

decides on the formation, organization,

operation and dissolution of stock

exchanges, futures and commodities

exchanges and OTC markets

Establishes the organization and

minimal corporate governance

structure of organized market

management bodies

Establishes self-regulation activities ofthe in the organized market

management bodies

Regulatory Framework

BM&FBOVESPA Market Supervision (BSM)


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41

AuditMarket

supervision

Analysis

and

strategy

Legal dept.

Selfregulation

Officer

Supervision Board

(12 members*)

Strategic

Committee

Atribuies da BSM estabelecidas na

Instruo CVM 461/2007:

Monitor and supervise transactions in

the organized markets

Determine deficient compliance with

the rules and norms

Monitor the activities of the Stock

Exchange

Initiate and prosecute disciplinary

administrative legal proceedings

Apply penalities

Main activities of BSM Organizational chart

Monitor 100% of the participants

transactions

Assess 100% of intermediaries

Enforcement Education

BSM duties established in CVM Instruction

461/2007

BSM is is a not-for-profit association organized as a self-regulatory and market surveillance

organization, responsible for regulatory and oversight activities relative to the markets we operate.

* 9 independent

BM&FBOVESPA Market Supervision (BSM)Self-Regulation Entity


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How? Why?

BM&FBOVESPAs Sustainability Mission

Program created in 2010

as the umbrella of exchange s

sustainability actions.

It aims to instigate and

promote the sustainabledevelopment of BM&FBOVESPA

and capital markets, involving

various audiences: investors,

companies, brokerage houses etc

New products and services

New Markets

International projection

Competitive edge

Risk managementCost reduction

Induction Role

Image

Reputation

Sustainability Policy

To promote sustainability and strategically-aligned private socialinvestment, contributing towards the institutional strengthening of

BM&FBOVESPA

BM&FBOVESPAs Sustainability Policy


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y yApproved by the Board at 4/4/2013

BM&FBOVESPAs Sustainability Policy


44/57

ISE Corporate Sustainability Index

and ETF

IGC Corporate Governance Indices

Em Boa Companhia(program with listed companies)

Founding Signatory to the Sustainable

Stock Exchanges Initiative UN

Signatory to the PRI Principles for

Responsible Investment - UN

ICO2 Carbon Efficient Index and ETF

Carbon Market

Green IT

Greenhouse Gas Emissions Inventory(verification and offsetting)

Compensation of greenhouse gas

emissions

Selective collection program

Internal and External stakeholders

Signatory to the Global Compact(the first stock exhange in the world)

Compacts and commitments

BM&FBOVESPA Institute

Voluntary Service Program

Novo Mercado

Sustainability Policy Report or Explain for Sustainability

reports

Internal governance (Sustainability

Comission and Committee)

Annual Report by GRI Model

y yInitiatives


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45

RESULTS FOR 2Q13

Revenue growth and cost control

2Q13 vs. 2Q12 Highlights


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46

Total revenue: R$668.8 million, +10.9%

BOVESPA seg.: R$289.5 million, +7.7% BM&F seg. R$268.8 million, +12.2%

Other revenue: R$110.5 million, +16.4%

Net revenue:R$599.8 million, +10.8%

Adjusted expenses:R$133.2 million, +4.1%

Operating income: R$423.0 million, +12.8%

Adjusted net income:R$469.6 million, +11.0%

Adjusted EPS:R$0.244,+11.4%

Dividends: payment ofR$280.7 million in 2Q13,

R$0.147 per share (80% of GAAP net income)

EBITDA: R$503.2 million, +14.0% and margin of 83.9%(according to CVM Rule 527/12 that does not exclude equity methodaccounting).

BOVESPA segment:

ADTV: R$8.3 billion, +8.5% Margin: 5.314 bps, -3.4%

BM&F segment:

ADV: 3.6 million contracts, +8.7%

RPC: R$1.151, +1.6%

High growth products:

Securities Lending: record of average open interestpositions (R$44.8 billion), +53.4%

Tesouro Direto: +10.4% average of assets under custody

FIIs (real estate funds): strong growth in ADTV (R$41.3

million in 2Q13) and number of investors (104.1 thousand)

LCAs (agribusiness credit bills): assets under custody of

R$52.3 billion in Jun/13.

MAIN PROJECTS AND HIGHLIGHTS

46

Q Q g gRecord of revenue and volumes

FINANCIAL HIGHLIGHTS OPERATIONAL HIGHLIGHTS

1Expenses adjusted to Companys depreciation, stock options plan, tax on dividends from the CME

Group and provisions.2Net income adjusted by: i) the e ffect of deferred liability recognition in connection with temporary

differences from amortization of goodwill for tax purposes; ii) the impact of the stock options plan;

iii) investment in affiliates (CME Group) accounted for under the equity method, net of taxes; andiv) taxes paid overseas to be compensated.3IPN/CORE implementation requires the authorization of the regulators.

PUMA Trading System: less than 1 millisecond of latency

Clearinghouses Integration (IPN)3: integrated tests with

market participants started in Jul/13.

iBalco - OTC Platform: in operation for FX NDFs since Jul/13

Pricing: first phase of changes for cash equities implemented

on Apr/13SMEs: proposals for developing the Access Market

BOVESPA Segment performance


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47

2Q13 vs. 2Q12: + 8.5% ADTV

13.9% growth of foreign investors ADTV, due to theactivity of high frequency traders (HFTs)

9.6% increase of institutional investors ADTV

Increase of turnover velocity, which hit 81.6%

Margins fell due to changes in the fee policy and theproduct mix (lower participation of derivatives)

2Q13 vs. 1Q13: +10.3% ADTV

10.1% growth in cash equities ADTV and 19.6%growth in options (equity/index) ADTV

47

AVERAGE DAILY TRADING VOLUME (ADTV) AND MARGIN

g pRecord volumes driven by turnover velocity

AVERAGE MARKET CAP. AND TURNOVER VELOCITYADTV BY INVESTOR CATEGORY

(in R$ billions)

7.6 7.2 7.0 7.5 8.3

5.498 5.728 5.573 5.706 5.314

2Q12 3Q12 4Q12 1Q13 2Q13

ADTV (R$ billions) Margin (bps)

BM&F Segment Performance


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48

2Q13 vs. 2Q12: +8.7% ADV

ADV: 12.8% increase in Brazilian Real interest ratecontracts

RPC: +1.6%

Appreciation of the FX rate (USD/R$) - FX and USDDollar interest rate contracts

Growth in RPC of index-based contracts

2Q13 vs. 1Q13: +20.5% ADV

+20.5% interest rate contracts in R$ ADV.

48

ADV BY INVESTOR CATEGORY

(in %)

AVERAGE DAILY VOLUME (ADV) AND AVERAGE RPC

gRecord ADV driven by interest rate contracts

INTEREST RATES IN R$ - ADV BY MATURITY

(in millions of contracts)

(in millions of contracts)

0.3 0.2 0.6 0.30.8

1.9

(86%) 1.6

(90%)

1.4( 71%)

1.8

(84%)

1.8

(70%)

2.3

1.81.9 2.1

2.5

2Q12 3Q12 4Q12 1Q13 2Q13

1st-3rd Maturity 4th Maturity-on

Revenue Breakdown in 2Q13


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49

6.3%

30.9%

4.3%39.3%

19.2%

39.3%: Financial/Commodity Derivatives

37.2%: Cash Market

6.3%: Trading

30.9%: Post-Trade

4.3%: Stock and Indices Derivatives

Total Revenue

R$668.8 million

4.4%: Securities Lending

4.3%: Depository, Custody and Back-Office

2.6%: Vendors

1.9%: Trading Access

1.8%: Listing

19.2%: Other Revenues

49

Diversified revenue sources as a differential

REVENUE BREAKDOWN

Revenue breakdown for the cash market (trading + post-trade) reflects the pricing policy changes which came into force in Apr/13.

i) Reduction of trading fee to 0.5 bps from 0.7 bps for all investors

ii) Post-trade increase to 2.0 bps from 1.8 bps for institutional investors and day trades

CASH MARKET TRADING REVENUE

ACCOUNTED FOR6.3% OF TOTAL

DERIVATIVES REVENUE

(BM&F + BOVESPA) ACCOUNTED FOR43.6% OF THE TOTAL

2Q13 Expenses


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50

Expense:

R$176.8

million

50

pContinued focus on cost control and operational efficiency

ADJUSTED EXPENSETOTAL EXPENSE BREAKDOWN

(in R$ millions)

*Includes expenses with maintenance in general, taxes adjusted by the dividends from CME Group,board and committee members compensation and others (excluding provisions).

**12 month inflation (Consumer Price Index - IPCA) of 6.7%. Source: IBGE.

127.9133.2

7.3 1.0

(1.8)

0.3

(1.6)

0.1

2Q12 Adj.

Exp.

Adj.

Personnel

Data proc. Third

Party

Commun. Marketing Others* 2Q13 Adj.

Exp.

ADJUSTED EXPENSE INCREASED 4.1% OVER2Q12, BELOW ACCUMULATED INFLATION IN

THE PERIOD** AND IN LINE WITH THE BUDGETFOR THE YEAR (R$560-580 MILLION)



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51

1,443

1,166

1,191

1,041

1,139

340

343

346

348

351

363

390

350

440

475

1,979

2,100

1,964

2,341

1,967

4,125

3,999

3,851

4,169

3,932

2Q12

3Q12

4Q12

1Q13

2Q13

Market participants cash collateral and others* Restricted funds

Subsidiaries** Available funds

*Includes collateral pledged by participants in the form of cash, receivables and rights in securities under

custody, as well as payouts still undisbursed.**Includes third party collateral and restricted funds at BM&FBOVESPA Settlement Bank (Banco

BM&FBOVESPA). 51

Reduction compared to 1Q13 due to dividend paymentsin April and June and execution of the buyback program

Acceleration of the share buyback program

(In R$ millions)

CASH AND FINANCIAL INVESTMENTS RETURN TO SHAREHOLDERS

FINANCIAL RESULTS

Financial result of R$43.1 million, down 21.2% YoY

Financial expenses rose 44.9%, reflecting, mainly, thedepreciation of the Brazilian Real against the USD

Financial income down 1.9%, reflecting the interestrate reduction

CAPEX

In 2Q13, investments amounted to R$78.6 million,totaling R$120.4 million in 1H13

CAPEX budget ranges:

2013:between R$260 290 million

2014: between R$170 200 million

BUYBACK PROGRAM

Repurchased 20.9 million shares (R$263.1 million) in2Q13, at an average price of R$12.61 per share (morethan 1.0% of the Companys free-float)***

New program: up to 60 million shares until Jun/14.Through Jul/13, 3.35 million shares were repurchasedat the average price of R$12.33 per share

PAYOUT On Aug. 8, 2013, the Board of Directors approved the

payment ofR$280.7 million in dividends, equivalentsto R$0.147 per share and 80% of GAAP net income

Payment on Sep. 30, 2013 based on shareholdersposition dated Aug. 21, 2013

*** This share buyback program ended on June 28, 2013 and authorized the acquisition of up to

60.0 million shares.

Summary of Income Statement (consolidated)


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52

(in R$ millions, unless otherwise indicated) 2Q13 2Q12Change

2Q13/2Q121Q13

Change

2Q13/1Q13

Net revenues 599.8 541.2 10.8% 521.0 15.1%

Expenses (176.8) (166.1) 6.4% (172.8) 2.3%

Operating income 423.0 375.0 12.8% 348.2 21.5%

Operating margin 70.5% 69.3% 122 bps 66.8% 369 bps

Equity in income of investees 51.4 42.4 21.3% 37.2 38.3%Financial results 43.1 54.7 -21.2% 37.1 16.0%

EBT 517.5 472.1 9.6% 422.5 22.5%

Net income* 350.8 300.1 16.9% 267.0 31.4%

Adjusted net income 469.6 422.9 11.0% 394.6 19.0%

Adjusted EPS (in R$) 0.244 0.219 11.4% 0.204 19.6%

Adjusted expenses (133.2) (127.9) 4.1% (124.0) 7.4%

Summary of Income Statement (consolidated)

* Attributable to BM&FBOVESPA shareholders.

NET INCOME GROWTH REFLECTING GOOD OPERATING PERFORMANCE

THE DECREASE IN FINANCIAL RESULTS WAS PRACTICALLY OFFSET BY THE INCREASE

IN THE EQUITY IN INCOME OF INVESTEES

High growth products


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53

Increasing revenue diversification

53

CAGR: +48%

*Updated until June 28, 2013.

OPERATIONAL FIGURES REVENUE

CAGR: +197% CAGR: +30%

CAGR: +55% CAGR: +36%

CAGR: +249% CAGR: +14%

29.2

49.076.6

94.0

2.8%

4.7%

6.6%7.5%

1H10 1H11 1H12 1H13

Revenue (R$ million) Share in total revenue (%)

Strong revenue growth of selected

products

In 1H13, representing 7.5% of total

revenue, or R$94.0 million

Products well received by clients

Continuous developments to maintain

strong growth trend

1.5

40.1

2010 2013*

FIIs (ADTV - R$ million)

20.5

44.7

2010 2013*

Securities Lending

(open interest - R$ billion)

28.5

107.0

2010 2013*

ETFs (ADTV - R$ million)

51.5

77.2

2011 2013*

Options with market maker

(ADTV - R$ million)

3.6

43.7

2011 2013*

LCAs (assets registered - R$ billion)

3,9

9,7

2010 2013*

Tesouro Direto

(ativos em custdia - em R$ BI)

Company's priorities


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Company s priorities

REVENUE GROWTH AND DIVERSIFICATION

Growth of the main markets and products (equities and derivatives)

Focus on developing products and markets with high growth potential and whichdiversify revenue

ACHIEVING OPERATING AND TECHNOLOGICAL EXCELLENCE

Development of platforms that bring efficiency to BM&FBOVESPA and the market

Assuring market integrity (risk control)

FOCUS ON THE CUSTOMER

Deepen the relationship with investors, brokerage houses and issuers, strengthening theCompany's position

Launch of new products

SHAREHOLDER RETURN

Remain focused on cost control

Payment of at least 80% of GAAP earnings as dividends

Share buyback program

54

Summary of Balance Sheet (Consolidated)


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55

Summary of Balance Sheet (Consolidated)

LIABILITIES AND SHAREHOLDERS EQUITYASSETS

(in R$ millions) 06/30/2013 12/31/2012 (in R$ millions) 06/30/2013 12/31/2012

Current assets 3,539.0 3,536.3 Current liabilities 1,735.3 1,660.6

Cash and cash equivalents 187.6 43.6 Collateral for transactions 1,010.8 1,134.2

Financial investments 3,093.6 3,233.4 Others 724.5 526.4

Others 257.8 259.3 Non-current liabilities 3,517.2 3,072.6

Non-current assets 21,151.2 20,610.8 Debt issued abroad 1,348.1 1,242.2

Long-term receivables 922.8 808.9 Deferred Inc. Tax and Social Contrib. 2,017.4 1,739.6

Financial investments 651.2 573.6 Others 151.7 90.7

Others 271.5 235.2 Shareholders' equity 19,437.6 19,413.9

Investments 3,235.4 2,928.8 Capital 2,540.2 2,540.2

Property and equipment, net 363.2 361.0 Capital reserve 16,047.2 16,037.4

Intangible assets 16,629.8 16,512.2 Others 834.5 820.3

Goodwill 16,064.3 16,064.3 Non-controlling interests 15.7 16.0

Total Assets 24,690.2 24,147.1 Liabilities and Shareholders' Equity 24,690.2 24,147.1

Reconciliation 2Q13


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56

Reconciliation 2Q13

ADJUSTED NET INCOME RECONCILIATION

ADJUSTED EXPENSES RECONCILIATION

* Attributable to BM&FBOVESPA shareholders.

(in R$ millions, unlessotherwise indicated)

2Q13 2Q12 Change2Q13/2Q12

1Q13 Change2Q13/1Q13

GAAP Net Income* 350.8 300.1 16.9% 267.0 31.4%

Stock options plan 7.8 8.2 -3.9% 7.9 -0.5%

Deferred tax liabilities 138.9 134.8 3.1% 138.9 0.0%

Equity Method (net of taxes) (46.3) (37.6) 23.1% (32.5) 42.2%

Recoverable taxes paid overseas 18.3 17.5 4.3% 13.4 36.9%

Adjusted Net Income 469.6 422.9 11.0% 394.6 19.0%

(in R$ millions, unless

otherwise indicated)2Q13 2Q12

Change

2Q13/2Q121Q13

Change

2Q13/1Q13

Total Expenses 176.8 166.1 6.4% 172.8 2.3%

Depreciation (28.8) (24.0) 20.2% (27.1) 6.4%

Stock options plan (7.8) (8.2) -3.9% (7.9) -0.5%

Tax on dividends from CME Group (5.1) (4.7) 7.2% (4.6) 10.2%

Provisions (1.9) (1.4) 38.4% (9.3) -79.6%

Adjusted Expenses 133.2 127.9 4.1% 124.0 7.4%


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BVMF Presentation - August 2013

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