By Brazil Stock Guide – Brazil’s main exchange operator, B3 SA (B3SA3), launched on Monday the country’s first futures and options contracts linked to the S&P/B3 Ibovespa VIX, transforming the long-standing volatility gauge into a fully tradable asset and formally opening Brazil’s market for direct volatility hedging.
Until now, the VIX Brazil — available since March 2024 — functioned strictly as a reference index measuring expected stock-market volatility over the next 30 days. With the rollout of futures and monthly options, investors can now directly trade market anxiety, replicate protection strategies long used in the U.S. and Europe, and build structured positions around volatility itself rather than directional price moves.
“The S&P/B3 Ibovespa VIX is an excellent risk-monitoring instrument and already widely used in global markets. It quantifies how much the market expects prices to fluctuate in the next 30 days, which is why it is often called the ‘fear index,’” said Luiz Masagão, B3’s vice president for Products and Clients, in a statement.
The VIX Brazil is calculated from real-time prices of Ibovespa options and follows a standardized interpretation scale: readings between 0 and 15 signal low uncertainty, while levels above 30 indicate extreme market stress. With the index currently hovering near 15 points, implied volatility suggests an expected move of roughly 3% in the Ibovespa over the next month. In a stress scenario with VIX at 30, the expected swing would approach 10%.
The introduction of VIX-linked derivatives gives local investors direct tools for portfolio protection, tactical hedging around political and fiscal events, and sophisticated relative-value strategies. It also marks an institutional leap for Brazil’s derivatives market, which has long relied primarily on currency and interest-rate contracts for risk management.
New brand
B3 unveiled on Monday a new brand identity developed by Tátil Design that materially обновates its visual and verbal system. The rebrand expands the use of B3’s signature brackets with new colors, textures and motion, making the identity more dynamic and adaptable across finance, culture and urban contexts. It also introduces B3 Sans, a proprietary typeface designed to strengthen clarity, agility and digital performance across platforms.
According to Patrícia Viegas, head of Brand and Sponsorships at B3, the repositioning translates the company’s recent transformation into concrete brand assets. Beyond the visual update, the new verbal positioning is anchored in four guiding principles: making things happen, building together, fostering prosperity and going beyond. The new identity will debut in the launch campaign of B3’s redesigned investor app and in its year-end institutional film, reinforcing a more contemporary, plural and ecosystem-driven
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