In brief
8% above July.
3% with lower revenue per contract.
82 million.
What we know
04Verified fact · material
Average daily financial volume traded in equities on B3B3OrganizationOperator of Brazil's exchange and market infrastructure, listed as B3SA3. Revenue tracks traded volumes; tax and regulatory disputes (Carf, Cade) make up its contingent risk.Open in the Market Map ↗ was R$ 30.284 billion in August, up 26.1% from August 2025 and 33.8% from July, according to operating data released on September 16.
Best month of the year for the main revenue line of the exchange.
Verified fact · material
The total number of investors on B3B3OrganizationOperator of Brazil's exchange and market infrastructure, listed as B3SA3. Revenue tracks traded volumes; tax and regulatory disputes (Carf, Cade) make up its contingent risk.Open in the Market Map ↗ reached 5.82 million, up 8.3% in a year.
The retail base keeps growing.
Context
In fixed income, the registered stock totalled R$ 9.994 trillion, up 14.8%, and new issuance R$ 2.162 trillion, up 0.5%.
Fixed income registration grows with the high Selic.
Sources[01]
Transmission to assets
Market read-through
The data supports upward revisions to B3B3OrganizationOperator of Brazil's exchange and market infrastructure, listed as B3SA3. Revenue tracks traded volumes; tax and regulatory disputes (Carf, Cade) make up its contingent risk.Open in the Market Map ↗ third quarter revenue; the record Brazilian VIX and September foreign flows indicate volume stayed high.
Falling revenue per contract in derivatives is the recurring weak spot.
Portfolio impact
01Higher volume lifts trading and post trading revenue.
Third quarter revenue tends to beat consensus.
What would change the view: If volume holds in September.
Direction is an explanatory hypothesis, not a forecast or recommendation.
Next signals
What to watch
- B3B3OrganizationOperator of Brazil's exchange and market infrastructure, listed as B3SA3. Revenue tracks traded volumes; tax and regulatory disputes (Carf, Cade) make up its contingent risk.Open in the Market Map ↗ September operating data
- Foreign flows accumulated in the month
- Third quarter results in November
Limits of the reporting
What remains uncertain
- Whether the August volume holds after the US rate hike
- The effect of new exchange and OTC competitors