BRICS exchanges alliance

BRICS Exchanges alliance is a joint initiative of emerging markets to expose foreign investors to their dynamic economies and to increase the liquidity of their trading venues.

The initiative brings together the BM&FBOVESPA from Brazil, Moscow Exchange from Russia, the BSE Ltd (formerly known as Bombay Stock Exchange) from India, Hong Kong Exchanges and Clearing Limited (HKEx) , as the initial China representative, and the JSE Limited (Johannesburg Stock Exchange) from South Africa.

The mission of the alliance is to give global investors an easy access to major equity index derivatives of the BRICS markets thus giving them an opportunity to diversify their portfolios.

The first stage of the BRICS Exchanges' cooperation is cross-listing of benchmark equity index derivatives, which is meant to facilitate liquidity growth in the BRICS markets and considerably strengthen the international position of the BRICS alliance in the global economy.

The cross-listed derivatives include:

• Brazil's IBOVESPA futures;
• Russia's MICEX Index futures;
• India's Sensex Index futures;
• Hong Kong's Hang Seng Index futures and Hang Seng China Enterprises Index futures; and
• South Africa's FTSE/JSE Top40 futures. 

At the second stage of the project members of the alliance plan to jointly develop new products for cross-listing on their exchanges. The third stage may include further cooperation in joint products design and new services development.

Please see more information about the project here:

• BRICSmart - your gateway to leading developing market products (pdf, 968 Kb)
• BRICSmart – Contracts Specifications (pdf, 332 Kb)

Moscow Exchange's BRICS Contract Specifications

Specifications for the futures contract on the BOVESPA Index
Specifications for the futures contract on the SENSEX Index
Specifications for the futures contract on the Hang Seng Index
Specifications for the futures contract on the FTSE/JSE Top40 Index

The dates of execution for the futures contracts

Disclaimer: This information is intended to provide general information regarding the BRICSMART products, and is not intended to, nor does it, constitute investment or other professional advice. It is prudent to consult professional advisers before making any investment decision or taking any action which might affect your personal finances or business.  The BRICS members constituting BM&FBovespa S.A; BSE Limited; Hong Kong Exchanges and Clearing Limited; Hong Kong Futures Exchange Limited; JSE Limited and Open Joint Stock Company "Moscow Exchange MICEX-RTS" ("BRICS members") do not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the accuracy or reliability of any advice, opinion, statement, or other data and information contained in, displayed on, linked to or distributed through this website.  Your interaction, correspondence or business dealings with third parties which are referred to on this website is entirely at your own risk and are solely between you and such third party.  You are solely responsible for identifying and familiarising yourself with any terms and conditions which will govern your relationship with such third party.  All intellectual property rights in the index values and constituent list in the BRICSMART products vest in the BRICS members who have obtained licence to use such intellectual property rights in the creation of the BRICSMART products.The BRICS members, their officers, employees and agents shall not be liable (including in negligence) for any loss or damage of any kind or nature arising from the use of or reliance on information provided here. 

BM&FBovespa S.A; BSE; Hong Kong Exchanges and Clearing; Hong Kong Futures Exchange; FTSE; JSE; Open Joint Stock Company "Moscow Exchange MICEX-RTS"; IBovespa; Hang Seng Index; FTSE/JSE Top40 Index and and MICEX Index word marks and logos are registered trademarks, used under license.