Abbreviations

AT

Algorithmic Trading/Trader

BM&F

Bolsa de Mercadorias e Futuros (Brazilian Commodities and Futures Exchange)

Bovespa

Bolsa de Valores de São Paulo (São Paulo Stock Exchange)

CATS

Computer Assisted Trading System

CFTC

Commodity Futures Trading Commission

CMN

Conselho Monetário Nacional (Brazilian National Monetary Council)

CPF

Cadastros de Pessoa Física (Registry of Taxpaying Individuals)

CVM

Comissão de Valores Mobiliários (Brazilian Securities Commission)

DJI

Dow Jones Industrial Average

DMA

Direct Access Market

FBI

Federal Bureau of Investigation

Febraban

Federação Brasileira de Bancos (Brazilian Federation of Banks)

FIX

Financial Information Exchange Protocol

FP

Productive Forces

GDP

Gross Domestic Product

GNP

Gross National Product

GTS

Global Trading System

HFT

High Frequency Trading/Trader

IBGE

Instituto Brasileiro de Geografia e Estatística (Brazilian Institute of Geography and Statistics)

ICT

Information and Communications Technologies

IPO

Initial Public Offering

IT

Information Technology

NYSE

New York Stock Exchange

PQO

Programa de Qualificação Operacional (Operational Qualification Program)

R&D

Research and Development

S&P

Standard and Poor’s

SEC

Security and Exchange Commission

SRP

Social Relations of Production

UNCTAD

United Nations Conference on Trade and Development

USA

United States of America

WTr

Web Trading