EXTOL was founded in 1996 by a group of technical professionals in systems with substantial experience in the stock market and in helping Bovespa & BM&F brokers with IT services. EXTOL has over the past few years greatly enhanced their systems and services, and created new products. This culture of continuous innovation has helped EXTOL obtain an impressive position in the Brazilian electronic trading market. One of EXTOL's most successful systems, XBroker, used by Bovespa and BM&F, enables the smooth management of operations carried out by Bovespa and BM&F. The system is sectioned into four modules: Orders, Financial, Data Records, and Integrator, which allow for business consistency. In use at BM&F, the Broker's Orders and the Execution Management of the Broker Manager's system enables the follow-up and the management of operations carried out at BM&F with the traders' trade screen specification, or else via overtime.