BM&F.; Brazil's Mercantile and Futures Exchange. This exchange handles trades for a number of items including agricultural commodities, gold futures, and options. The exchange was formed after a series of mergers between Sao Paulo Commodities Exchange, Brazilian Mercantile & Futures Exchange, and the Rio de Janeiro-based Brazilian Futures Exchange. With each merger, the exchange was able to strengthen the domestic commodity market and increase its position as a major derivative trading center.