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  • BM&F - an overview


    The first commodity exchange in Brazil was founded in São Paulo in 1917. The present Bolsa de Mercadorias & Futuros (BM&F) was established in 1985; in 1991 it and the original exchange merged and in 1997 a further merger with the Brazilian Futures Exchange of Rio de Janeiro consolidated BM&F's position as the leading derivatives trading centre in the Mercosur free trade area. The exchange conducts business in many fields of which coffee is just one.  Details at  www.bmf.com.br.

    Through the GLOBEX system BM&F is linked to exchanges in the United States and elsewhere and its coffee contracts are accessible to non-residents of Brazil. This enables foreign traders and roasters to hedge purchases of Brazilian physicals against Brazilian futures, thus avoiding the differential risk that comes with hedging on other exchanges.