B3 taps Nasdaq to develop new clearing platform for Brazilian stock exchange

Rick Steves

“Through a phased migration process, B3 will gradually transform its clearinghouse solution onto a new platform, reinforcing our strategic commitment to technological innovation and capturing direct benefits for our clients.”

B3 and Nasdaq have joined forces to develop a new clearing platform for the Brazilian stock exchange, responsible for the clearing, settlement, and management of counterparty risk associated with financial market transactions.

Nasdaq’s real-time clearing solutions provide CCPs with high-velocity clearing, settlement, and risk management capabilities for safe, efficient and reliable operations. It offers robust, modular clearing platforms that manage a wide range of asset classes.

B3’s clearing platform addresses unprecedented volumes, disruptive events, new asset classes

The agreement will support the ongoing evolution of its platform to meet the needs of a rapidly expanding market, which demands a continuous focus on innovation. The multi-year work schedule between B3 and Nasdaq will see close collaboration between engineering teams, drawing on Nasdaq’s expertise in providing real-time clearing solutions to over 20 central counterparty clearing houses worldwide.

The Brazilian stock exchange, in turn, will share its unique experience of operating demanding, high-volume markets, and offering a broad portfolio of financial products, to drive incremental improvements in Nasdaq’s clearing platform.

The development of a new system for the Brazilian stock exchange is to take place in phases and is part of B3’s strategy to provide the market with continuous technological innovation. The partnership addresses the unprecedented volumes, major disruptive events, and new asset classes that have placed a significant challenge on market infrastructure operators globally, emphasizing the need to enhance technology infrastructure.

Supporting the rapid growth of the Brazilian market

Mario Palhares, Chief Operating Officer – Electronic Trading and CCP at B3, said: “We are working diligently to ensure that our clients have access to the best solutions available in the market, always aiming at improving our services, increasing capacity and availability, and offering better time to market.

Rodrigo Nardoni, Chief Technology Officer at B3, commented: “Through a phased migration process, B3 will gradually transform its clearinghouse solution onto a new platform, reinforcing our strategic commitment to technological innovation and capturing direct benefits for our clients.”

Roland Chain, Executive Vice President and Head of Marketplace Technology at Nasdaq, added: “Incorporating Nasdaq’s clearing technology has the power to bring substantial benefits to B3 and support the rapid growth of the Brazilian market. We also welcome the opportunity to enhance our own post-trade products and solutions by collaborating with innovative market infrastructure groups like B3.”

Headquartered in São Paulo and with offices in London, Chicago, Singapore and Shanghai, B3 is one of the main financial market infrastructure companies in the world and one of the largest in terms of market capitalization among global leaders in the exchange industry.

B3 trades in stock exchange and OTC environments, and offers products and services to the financing chain.

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