Brazilian exchange group B3 collaborates with Nasdaq on new clearing platform
10 July 2023 Brazil
Image: AdobeStock/Sync Produções
Nasdaq has confirmed a partnership with Brazilian exchange group B3 to deliver a clearing platform for the Brazilian stock exchange.
This establishes a multi-year collaboration between the US exchange and financial technology group Nasdaq and B3, drawing on Nasdaq’s expertise in delivering real-time clearing solutions to more than 30 clearing houses globally.
Through its modularised clearing solutions, Nasdaq aims to provide central counterparties with high-velocity clearing, settlement and risk management tools for multi-asset class clearing services.
B3 indicates that this agreement is the latest step in its long-term strategic plan to deliver high-grade technology to the Brazilian market through collaboration with global partners.
B3 chief technology officer Rodrigo Nardoni says that the upgrade of the B3 clearing platform will be conducted through a phased transition that will minimise impact on market operation. “Through a phased migration process, B3 will gradually transform its clearing house solution onto a new platform, reinforcing our strategic commitment to technological innovation and capturing direct benefits for our clients,” he says.
Nasdaq’s head of marketplace technology Roland Chai adds: “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."
This establishes a multi-year collaboration between the US exchange and financial technology group Nasdaq and B3, drawing on Nasdaq’s expertise in delivering real-time clearing solutions to more than 30 clearing houses globally.
Through its modularised clearing solutions, Nasdaq aims to provide central counterparties with high-velocity clearing, settlement and risk management tools for multi-asset class clearing services.
B3 indicates that this agreement is the latest step in its long-term strategic plan to deliver high-grade technology to the Brazilian market through collaboration with global partners.
B3 chief technology officer Rodrigo Nardoni says that the upgrade of the B3 clearing platform will be conducted through a phased transition that will minimise impact on market operation. “Through a phased migration process, B3 will gradually transform its clearing house solution onto a new platform, reinforcing our strategic commitment to technological innovation and capturing direct benefits for our clients,” he says.
Nasdaq’s head of marketplace technology Roland Chai adds: “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."
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