This shall substitute the Global Trading System (GTS), Mega Bolsa, BOVESPA FIX and SISBEX, integrating them into a single system with greater processing capacity, extremely low latency, and new functions. 

The implementation of the new platform, named the Puma Trading System (Puma), shall occur in stages:

• 1st Stage: Substitution of GTS (derivatives and spot foreign exchange);
• 2nd Stage: Substitution of Mega Bolsa (equities and equity derivatives);
• 3rd Stage: Substitution of BOVESPA FIX (fixed-income corporate securities) and SISBEX (government securities).

1st Stage: Launch of the Puma Trading System on August 29, 2011

Puma shall substitute the GTS system gradually, in a four-stage process. At each stage a combination of instruments shall be transferred to Puma, as of which the orders sent to the Exchange for these contracts shall be processed exclusively by the new system.

The migration stages are:
1st Migration Spot foreign exchange contracts.
2nd Migration Agricultural derivatives.
3rd Migration Financial derivatives (interest rates, foreign exchange, inflation indices, gold etc.), except for derivatives based on stock indices.
4th Migration Derivatives based on stock indices.

We hereby inform you that when the first stage of development and integrated tests with the market are concluded, the Exchange shall implement Puma in the spot foreign exchange market on August 29, 2011 (Monday). The other stages shall be executed in the following weeks, at dates to be announced at an opportune moment.