Corporate Governance

Commitees

Advisory Committee to the Board of Directors:
In its corporate governance structure, BM&FBOVESPA also maintains committees to support the Board of Directors. These are:

Audit Committee
This committee is responsible for monitoring and assessing the quality of the Internal Audit and independent audits in the company and its affiliated companies. It is comprised of five members, being one an independent director and four external members.
• Claudio Luiz da Silva Haddad (Independent Member)
• Nelson Carvalho (External and Independent Member)
• Paulo Roberto Simões da Cunha (External and Independent Member)
• Sérgio Darcy da Silva Alves (External and Independent Member)
• Tereza Cristina Grossi Togni (External and Independent Member)

Corporate Governance and Nomination Committee
Among its main functions, this committee promotes the development of governance, assesses the adoption of good practices, selects and appoints members for the Board. It is comprised of three directors, of which at least two are independent.
• Arminio Fraga Neto (Chairman of the Board of Directors and Independent Board Director) 
• Luis Stuhlberger (Non-Independent Board Director)
• Pedro Pullen Parente (Independent Board Director)
 

Compensation Committee
This committee reviews, proposes and monitors adjustments in parameters, guidelines and in the compensation and benefits policy, as well as the personnel management model. It is comprised of three directors, of which at least two are independent.
• Candido Botelho Bracher (Non-Independent Board Director)
• Claudio Luiz da Silva Haddad (Independent Board Director)
• René Marc Kern (Independent Board Director)

Risk Committee
• Arminio Fraga Neto (Chairman of the Board of Directors and Independent Board Director)
• José Roberto Mendonça de Barros (Independent Board Director)
• Julio de Siqueira Carvalho de Araujo (Independent Board Director)
• Luis Stuhlberger (Non-Independent Board Director)

Advisory Committee to the CEO:
The Committees that support the CEO are the Agribusiness Committee, Market Committee, Market Risk Committee, Regulatory Committee and Athletics Club Committee.

Agribusiness Committee
• André Luiz de Santos Freitas (Credit Suisse Hedging-Griffo)
• Carlo Fillipo M. Lovatelli (ABAG - Associação Brasileira de Agribusiness)
• João de Almeida Sampaio Filho (Secretaria de Estado da Agricultura e Abastecimento)
• Joaquim da Silva Ferreira (Futura Commodities CM Ltda.)
• Marcos Sawaya Jank (UNICA - União de Agro-Ind. Canavieira de São Paulo)
• Norberto Lanzara Giangrande Jr. (Link Investimentos)
• Pedro de Camargo Neto (Abipecs - Associação Brasileira da Ind. Prod. e Exp. de Carne Suína) Renato Diniz Junqueira (Distribuidora Intercap TVM Ltda.)
• Roberto Rodrigues (Fundação Getulio Vargas)

Market Committee
• Alan Gandelman (ICAP Capital Markets LLC)
• André Guilherme Brandão (HSBC Bank Brasil)
• Carlos Roberto Scretas
• Igor Mansour (Morgan Stanley)
• James Marcos Oliveira
• João Cesar de Queiroz Tourinho (Mauá Sekular)
• Julio de Siqueira Carvalho de Araujo (Bradesco)
• Luiz Fernando Figueiredo (Mauá Sekular)
• Marcelo Kayath (Banco de Investimentos Credit Suisse (Brasil) S.A.)
• Marcio Verri (Kinea)
• Sérgio Fraiman Blatyta (Banco Santander)

Market Risk Technical Committee
• Cícero Augusto Vieira Neto - Chief Operating, Clearing and Depository Officer
• Marcelo Maziero - Chief Products and Customers Officer
• Luis Antonio B. G. Vicente* - Risk Management Department
• André E. Demarco - Operations Department
• Marcos Costa Santos Carreira - Derivatives Products Department
• Sérgio Goldenstein - Fixed Income and FX Cash Market Products Department
• Viviane El Banate Basso - Settlement Department
• Isabela Munch - Post-trading projects Department
• Ivan Wedekin - Commodities Department
• Julio Carlos Ziegelmann - Equities Department
• Marcelo Wilk - Central Depository Department


Athletics Club Committee
• Arnaldo David Cezar Coelho
• Edson Figueiredo Menezes
• Luiz Masagão Ribeiro
• Manoel Felix Cintra Neto Sergio
• Coutinho Nogueira

Regulations Committee
• Aline de Menezes Santos Aragão
• Clarence Joseph Hillerman Jr.
• Marcus de Freitas Henriques
• Sergio Darcy da Silva Alves (Coordinator)

Committees
Committee to Enhance BM&FBOVESPA Intermediation
• Abraham B. V. Weintraub (Votorantim CTVM Ltda.)
• André Luiz de Santos Freitas (ANCORD)
• Armênio dos Santos Gaspar (Prosper S/A CVC)
• Carlos Arnaldo Borges de Souza (Planner CV S.A.)
• Christian George Egan (Itaú Corretora de Valores S/A)
• Joaquim da Silva Ferreira (ANCORD)
• Julio de Siqueira Carvalho de Araujo (CA BM&FBOVESPA)
• Leandro Torres (BTG Pactual CTVM S/A)
• Manoel Felix Cintra Neto (ANCORD)
• Manoel Horacio Francisco da Silva (Fator S/A)
• Marcelo Maisonnave de Oliveira (XP Investimentos CCTVM S/A)
• Mauro Barbosa de Oliveira (Credit Suisse (Brasil) S.A. CTVM)
• Renato Diniz Junqueira (BM&FBOVESPA)
• Vieri Ermanno Bracco (HSBC CTVM S/A)

• Edemir Pinto (CEO BM&FBOVESPA)
• Cícero Augusto Vieira Neto (COO BM&FBOVESPA)
• Marcelo Maziero (Chief Products and Customers Officer BM&FBOVESPA)
• Luiz Felipe Carvalho Paiva (Relationship and Development of Brokers Officer BM&FBOVESPA)

Advisory Committees
Since the integration of the two exchanges, BM&FBOVESPA has continuously strived to work closer with the participants in its markets. For this purpose, the company maintains several open channels with investors and companies in different categories, which collaborate to develop products, services, and to suggest new practices.

In addition to the Committees that support the Board of Directors and the CEO, the Advisory Committees were created to ensure a constant liaison with the BM&FBOVESPA market participants. In 2009, these Committees underwent important enhancements, such as the expansion in the number of participants, currently around 450 people. Still last year, the Real Estate Market, and the Trading & Technology Committees were created.

Currently, BM&FBOVESPA has the following Advisory Committees:
• Advisory Commitee - Soybean and Corn
• Advisory Commitee - Coffee
• Advisory Commitee - Live Cattle and Feeder Cattle
• Advisory Commitee - Cotton
• Advisory Commitee - Sugar and Ethanol
• Advisory Commitee - Equities
• Advisory Commitee - Fixed Income and FX
• Advisory Commitee - Novo Mercado
• Advisory Committee - Real Estate Market
• Advisory Committee - Risk Analysis
• Advisory Committee - Listing
• Advisory Committee - Trading & IT