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BM&FBOVESPA S.A. ­ Bolsa de Valores, Mercadorias e Futuros
Public Company
Brazilian Federal Taxpayer CNPJ No.09.346.601/0001-25
Corporate Registry (NIRE) No. 35.300.351.452
NOTICE TO THE MARKET
BM&FBOVESPA and the Bolsa de Comercio de Santiago
sign strategic joint operating agreement

The BM&FBOVESPA S.A. ­ Bolsa de Valores, Mercadorias e Futuros
(BM&FBOVESPA) and the Bolsa de Comercio de Santiago (BCS) signed a strategic
joint operating agreement today. The agreement will enable connectivity between the
two exchanges, in particular order routing and the distribution of market data. It
includes other initiatives, such as the development of the Chilean derivatives market in
the Bolsa de Comercio de Santiago, the establishment of joint initiatives related to
settlement, clearing and central counterparty, and access to the BM&FBOVESPA/CME
electronic trading platform for markets administered by the Chilean stock exchange.
Order Routing and Market Data
With this agreement the exchanges seek a joint technological solution that allows order
routing between the two institutions. Initially, the scope of the order routing will
comprise listed stocks on each exchange, as well as stock options and other related
derivatives. This initiative will allow Chilean brokerage houses connected to the Bolsa
de Comercio de Santiago's trading system to send buy and sell orders for Brazilian
securities at BM&FBOVESPA, and vice versa.
The partnership also permits the exchanges to receive and distribute each other's market
data. To complete this agreement, a work schedule is being developed that will involve
connectivity deadlines for both exchanges, types of market data distribution, sales and
marketing, and the certification of distributors, among others.
Development of the Chilean derivatives market
One of the objectives of the agreement is to enable BM&FBOVESPA and the Bolsa de
Comercio de Santiago to work together on the development of a derivatives market in
Chile, which will encompass options and futures on stocks, interest rates, and exchange
rates.

Regulatory approval
The agreement and the implementation of the system are subject to regulatory
authorization and other approval or consent by the competent authorities of each
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country. The settlement and clearing of orders executed through the system will be
carried out in accordance to the laws and regulation in force in the market where the
transaction is performed.

About the Bolsa de Comercio de Santiago
The Santiago Stock Exchange SSE is the undisputed center of the domestic capital
market, becoming a benchmark of excellence for local and foreign investors in equity
market, fixed income market and money market. The SSE is the leader in the
application of technology in the stock market, offering electronic trading systems,
queries, order routing systems, information and redistribution of data ­ among other
innovative applications ­ essential for local and foreign investors.
www.bolsadesantiago.com
About BM&FBOVESPA
BM&FBOVESPA S.A. ­ Securities, Commodities and Futures Exchange was created in
2008 with the integration between the Brazilian Mercantile & Futures Exchange
(BM&F) and the São Paulo Stock Exchange (Bovespa). Together, the companies have
formed the third largest exchange in the world in terms of market value, the second
largest in the Americas, and the leading exchange in Latin America. BM&FBOVESPA
offers trading in equities on the cash, options and forward markets, and indices, interest
rates, foreign exchange, agricultural and energy commodities on the futures, options,
forward and swap markets, as well as other spot market transactions on gold, US Dollar
and federal government securities. In order to provide investors with efficient and
secure services, BM&FBOVESPA utilizes state-of-the-art technology. With its fully
integrated business model BM&FBOVESPA is able to offer not only a sophisticated
trading environment, but also registration, clearing, settlement, risk management, and
central depository services. It also acts as the central counterparty for all of the
transactions carried out in its markets by way of its four clearinghouses: equities,
derivatives, securities, and foreign exchange.
www.bmfbovespa.com.br
São Paulo, December 13th, 2010
Eduardo Refinetti Guardia
Investor Relations Officer