PT - JOURNAL ARTICLE AU - Namit Setia TI - Brazilian Auctions: <em>A Primer</em> AID - 10.3905/jot.2013.8.2.074 DP - 2013 Mar 31 TA - The Journal of Trading PG - 74--78 VI - 8 IP - 2 4099 - https://pm-research.com/content/8/2/74.short 4100 - https://pm-research.com/content/8/2/74.full AB - The unprecedented daily volumes on BM&amp;F Bovespa and the growing importance of Brazil in global portfolios make it increasingly important to understand Brazilian market microstructure. Of particular importance are the open and closing auctions in Brazil, which are material but somewhat idiosyncratic liquidity events that are especially important during index rebalances. In this article, the author explores the auction rules and processes and presents empirical data to show the effect of these rules in practice.TOPICS: Emerging, exchanges/markets/clearinghouses