The Combined Income Statement:

- considers combined BM&FBOVESPA and Cetip's results for each period

- eliminates intra-group transactions (transactions between BM&FBOVEPA and Cetip), imp
- shows Cetip's revenues net of discounts, due to alignment of practices with BM&FBOVES
- reclassify some Cetip's expense lines according to BM&FBOVESPA's expenses breakdo
PA and Cetip), impacting revenues and expenses
with BM&FBOVESPA
xpenses breakdown
B3 - Brasil, Bolsa, Balco B3 - Brasil, Bolsa, Balco
(em milhares de reais) (in thousands of Reais)

1T17
Demonstrao do resultado (consolidado) Income statement (consolidated) 2013 2014 2015 2016 (1Q17)
Receita total Total revenues 3,386,204 3,383,203 3,728,704 4,005,118 1,043,494
Negociao e/ou liquidao - BM&F Trading and/or settlement - BM&F 916,530 866,577 1,074,531 1,050,397 250,551
Derivativos Derivatives 897,098 850,607 1,053,513 1,030,072 245,522
Cmbio Foreign exchange 19,424 15,970 20,894 20,325 5,029
Ativos Securities 8 - 124 - -
Negociao e/ou liquidao - Bovespa Trading and/or settlement - Bovespa 1,023,978 977,373 903,016 977,848 272,393
Negociao - emolumentos de prego Trading - trading fees 192,985 162,620 146,645 156,613 44,066
Transaes - compensao e liquidao Transactions - clearing and settlement 804,570 793,493 734,866 802,558 222,310
Outras Other 26,423 21,260 21,505 18,677 6,017
Segmento de ttulos e valores mobilirios (UTVM) - Cetip - Securities segment (UTVM) 661,514 744,956 905,064 1,061,704 274,949
Registro Registration fees 110,480 115,058 118,706 110,016 25,164
Custdia Asset under permanency 230,601 283,798 379,693 486,612 124,734
Utilizao mensal Monthly utilization 158,935 177,805 189,474 226,522 60,551
Transaes Transaction fees 80,719 85,438 122,636 144,364 38,352
Outras Other revenue from services 80,779 82,857 94,555 94,190 26,148
Segmento de financiamentos (UFIN) - CETIP Cetip - Financing segment (UTVM) 354,330 391,442 364,484 366,777 103,658
SNG SNG 166,745 161,673 146,598 141,559 38,420
Sistema de contratos Contracts systems (Sircof) 145,302 175,958 159,140 170,288 48,118
Market data e desenvolvimento de solues Market data and Development of solutions 39,019 50,234 54,385 52,663 16,712
Outras Other Revenues 3,264 3,577 4,361 2,267 408
Outras receitas Other revenues 429,852 402,855 481,609 548,392 141,943
Emprstimos de valores mobilirios Securities lending 102,186 81,203 103,203 103,975 26,991
Listagem de valores mobilirios Listing 47,126 47,445 50,058 52,935 14,478
Depositria, custdia e back-office Depository, custody and back-office 116,305 117,089 130,829 177,675 50,855
Acesso dos participantes de negociao Trading participant access 47,705 39,333 39,493 36,186 8,330
Vendors - cotaes e informaes de mercado Vendors - quotations and market information 69,236 70,032 98,434 101,563 25,918
Bolsa Brasileira de Mercadorias - emolumentos e contribui Brazilian Commodities Exchange- fees 5,067 - - - -
Banco - intermediao financeira e tarifas bancrias Bank - financial intermediation and bank fees 22,053 27,258 35,203 39,861 10,254
Outras Other 20,174 20,495 24,389 36,197 5,117
Dedues da receita Revenue deductions (346,640) (337,182) (387,053) (398,236) (102,587)
PIS e Cofins PIS and Cofins (280,716) (267,746) (306,644) (328,116) (85,907)
Impostos sobre servios Taxes on services (65,924) (69,436) (80,409) (70,120) (16,680)
Receita liquida Net revenue 3,039,564 3,046,021 3,341,651 3,606,882 940,907
Despesas Expenses (1,150,744) (1,203,547) (1,297,955) (1,720,032) (754,518)
Pessoal e encargos Personnel and related charges (516,529) (535,493) (647,162) (739,116) (171,966)
Processamento de dados Data processing (163,839) (178,553) (187,472) (219,434) (58,038)
Depreciao e amortizao Depreciation and amortization (195,450) (202,241) (203,627) (204,048) (52,976)
Servios de terceiros Third-party services (69,224) (70,857) (70,365) (65,299) (11,967)
Manuteno em geral Maintenance (15,455) (15,629) (19,192) (20,977) (5,053)
Comunicaes Communication (20,916) (18,376) (11,739) (10,176) (2,538)
Promoo e divulgao Marketing (30,643) (28,813) (25,253) (22,984) (5,155)
Impostos e taxas Taxes (57,120) (56,684) (8,968) (8,588) (2,769)
Honorrios do conselho/comits Board and committee members' compensation (9,697) (11,328) (11,895) (15,895) (4,248)
Relacionada combinao com a Cetip Related to the combination with Cetip - - - (70,271) (275,700)
Diversas Others (71,872) (85,572) (112,282) (343,244) (164,107)
Resultado operacional Operating income 1,888,820 1,842,474 2,043,696 1,886,850 186,389
Margem operacional Operating margin 62.1% 60.5% 61.2% 52.3% 19.8%
Reduo ao valor recupervel de ativos Impairment - - (1,662,681) - (65,508)
Resultado de equivalncia patrimonial Equity in income of investees 170,902 212,874 137,210 1,082 176
Descontinuidade do mtodo de equivalncia patrimoDiscontinuity of the equity method - - 1,734,889 - -
Resultado de alienao de investimentos em coligad Gain on disposal of investment in associate - - 723,995 - -
Resultado financeiro Financial results 138,013 149,466 397,368 243,127 198,826
Receitas financeiras Financial income 333,276 552,515 1,388,591 1,421,715 476,564
Despesas financeiras Financial expenses (195,263) (403,049) (991,223) (605,788) (277,738)
Alienao das aes do CME Group Divestment from CME Group shares - - - (572,800) -
Resultado antes da tributao sobre o lucro Income before income tax and social contribut 2,197,735 2,204,814 3,374,477 2,131,059 319,883
Imposto de renda e contribuio social Income tax and social contribution (756,010) (791,974) (673,413) (112,367) (110,738)
Corrente Current (148,556) (215,352) (175,288) (309,129) (87,051)
Diferido Deferred (607,454) (576,622) (498,125) 196,762 (23,687)
Resultado lquido das operaes continuadas Net result from continued operations 1,441,725 1,412,840 2,701,064 2,018,692 209,145
Resultado lquido das operaes descontinuadas Net result from discontinued operations - (7,807) - - -
Lucro (prejuzo) lquido do perodo Net income (loss) for the period 1,441,725 1,405,033 2,701,064 2,018,692 209,145
Margem lquida Net margin 47.4% 46.1% 80.8% 56.0% 22.2%
Atribudos aos: Attributable to:
Acionistas da BM&FBOVESPA BM&FBOVESPAs shareholders 1,442,294 1,404,172 2,699,844 2,018,891 209,026
Margem lquida Net margin 47.5% 46.1% 80.8% 56.0% 22.2%
Participao dos no-controladores Non-controlling interest (569) 861 1,220 (199) 119