BYMA Members
Brokerage firms must be authorized and registered by the National Securities Commission and adhere to the established formalities and requirements for their category.
Brokers
These are legal entities registered with the National Securities Commission (CNV) to participate in the settlement and clearing of trades involving securities registered within the framework of these markets. As a general rule, all Brokers may carry out the activities inherent to Trading Members.
Clearing Broker
They are involved in the settlement and clearing of trades (both initial offerings and secondary trading), registered for their own portfolio and for their clients, and they also offer settlement and clearing services to Trading Members.
Self-Clearing Broker
They only participate in the settlement and clearing of trades (initial offering and secondary trading) registered by them for both their own portfolio and for their clients.
Trading Members
Companies authorized to act as market intermediaries. They can participate in initial offerings and secondary trading through the Markets' Electronic Trading Systems, placing orders for initial offerings or registering trades in secondary trading, both for their own portfolio and for third-party clients.
Intermediary Members
Legal entities registered with the CNV to bring together two or more parties for the purpose of executing securities trades, without being linked to any of them by relationships of collaboration, subordination, or representation