B3 picks Genesis' platform for Brazil’s financial markets
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B3 picks Genesis' platform for Brazil’s financial markets 17 December 2020Brazil Reporter: Maddie Saghir
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The Brazilian stock exchange (B3) has selected Genesis’ low-code application platform (LCAP) for Brazil’s financial markets.
B3 selected Genesis to deliver a proof-of-concept (PoC) to process and test real-time post-trading allocation messages, in a low-latency and high-throughput secure and performant environment.
The PoC was delivered in a six-week timeframe and integrated with B3’s existing infrastructure architecture.
The addition of LCAP enables the creation of products and solutions without having to write substantial lines of code.
The platform, which will help meet the requirements of the financial markets, is set to support B3 with business process management (BPM) workflows and use cases such as real-time trading and risk management.
B3 said the solutions are essential to ensure a safe and strong exchange infrastructure as well as helping to support the growth of Brazilian markets and the increase in market volatility and transaction volumes.
Paulo D’Angelo, managing director at B3, said: “Impressed by Genesis’ low-code platform we put it to work immediately. We set out a highly complex event processing proof-of-concept (PoC) involving stress-testing and handling high-frequency spikes in millions of trade messages.”
“Genesis’ low-code platform tackled and addressed the challenge in a matter of weeks. Based on this first PoC, we have every confidence that Genesis will be a key partner in helping us identify and deliver immediate and future opportunities for further efficiencies,” D’Angelo explained.
Stephen Murphy, CEO of Genesis, added: “We are privileged that B3 has chosen to partner with Genesis. We are immensely proud that we continue to deliver these exceptional applications all built on the Genesis Low-Code Application Platform.”
“We believe our relationship with B3 is further evidence of our financial markets capabilities and ongoing demand for a low-code application platform to help business leaders and visionaries transform their businesses at pace, at scale and with confidence.”
Recently, Avelacom, a global connectivity and IT infrastructure provider for the financial services industry, revealed that it is adding B3’s real-time market data to its service portfolio.
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