Changes to B3's Operating Calendar in 2024: What Every Investor Needs to Know

For those involved in the Brazilian capital markets, monitoring the fluctuations in stock exchange operations is essential. B3, which consolidated its operations after the merger between the São Paulo Stock, Commodities, and Futures Exchange (BM&FBOVESPA) and CETIP in 2017, will implement schedule adjustments during 2024 that may directly impact your trading strategies.

Since the restructuring in 2017, B3 has centralized the trading of securities and shares of over 400 Brazilian companies. The exchange’s operation has followed a stable pattern since 2022 but is influenced by seasonal factors, especially due to synchronization with the American calendar. These changes occur annually because of the significant participation of foreign investors and the connection between global markets.

Standard Operating Hours in 2024

The stock exchange operates from Monday to Friday during business hours. The main trading period is from 10:00 to 17:00 Brasília time, with some specific sessions:

Pre-opening begins 15 minutes before the regular trading session, between 9:45 and 10:00, when the exchange records orders issued after the previous session’s close.

After market operates between 17:30 and 18:00, allowing trading of certain assets after standard hours. However, this period is subject to regulatory restrictions and influences from the American calendar.

Time Change in March 2024

A significant change occurs starting March 11, 2024. From November 6, 2023, to March 10, the stock exchange’s closing time was extended to 18:00, reflecting daylight saving time in the US. From March 11 onward, the closing time reverts to 17:00, with the after market resuming from 17:30 to 18:00.

This change is a direct consequence of the end of daylight saving time in the US on March 10. The adjustment maintains synchronization between markets and ensures the continuity of international operations.

Holiday Schedule Affecting the Stock Exchange

During 2024, B3 will be closed on specific dates due to Brazilian national holidays. Municipal holidays, such as São Paulo’s commemorative dates, do not interfere with exchange operations.

In January, the exchange remains closed on January 1 (Monday) for New Year’s Day. During Carnival, on February 12 and 13 (Monday and Tuesday), trading will be suspended, but on Ash Wednesday (February 14), there will be a continuous session from 13:00 to 17:55, with pre-opening from 12:45 to 13:00. For derivatives and commodities, trading opens at 13:00 with pre-opening from 12:55.

The calendar continues with closures on March 29 (Friday) for Good Friday, May 1 (Wednesday) for Labor Day, and May 30 (Thursday) for Corpus Christi. In November, the exchange closes on the 15th (Friday) due to the Proclamation of the Republic.

December features two periods of closure: December 25 (Wednesday) for Christmas and December 31 (Tuesday) for internal banking operations. On the last day of the year, B3 does not open due to operational decisions by financial institutions.

Impact of Operational Changes on the Brazilian Market

The interconnection between the Brazilian and American stock exchanges goes beyond mere administrative matters. Investors in global funds, fluctuations in exchange rates, and the oscillation of commodity prices such as oil and metals create a complex network of dependencies. Synchronizing schedules ensures that the Brazilian market remains actively involved in international trading and reinforces external investor confidence.

Constantly monitoring the new operating hours of the stock exchange is crucial to avoid losses due to expired deadlines or missed opportunities. Understanding these dynamics allows investors to structure their portfolios more strategically and securely, considering periods of higher volatility and liquidity that often coincide with the opening of American markets.

Staying informed about B3’s operational variations is a fundamental step for those aiming to operate effectively in the capital markets.