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BM&FBOVESPA sets investment, expense budgets for 2017

BM&FBOVESPA SA – Bolsa de Valores Mercadorias e Futuros has set an adjusted expense budget of between 675 million Brazilian reais and 705 million reais, and an investment budget of between 165 million reais and 195 million reais, for 2017.

The company will review both budgets if it gains approval for and completes its pending merger with Cetip SA – Mercados Organizados, the stock exchange operator said in a Dec. 16 filing.

BM&FBOVESPA's 2016 adjusted expense budget was in the range of 640 million reais to 670 million reais, while its investment budget for this year was between 200 million reais and 230 million reais.

As of Dec. 16, US$1 was equivalent to 3.41 Brazilian reais.