B3 Joins Force with Nasdaq to Develop New Clearing Platform

The Brazilian stock exchange group, B3, has entered into a partnership with Nasdaq to develop a new clearing platform for the Brazilian stock exchange. The new system will be responsible for clearing, settlement, and managing counterparty risk.

With Nasdaq's real-time clearing solution which provides CCPs with high-velocity clearing, settlement, and risk management capabilities, B3's clearing platform will be able to address more trading volumes, events, and new asset classes, meeting the needs of rapidly expanding market and enhancing the technology infrastructure in Brazil.

The development of the new system, a part of B3's strategy providing the market with continuous technological innovation, will be carried out in phases, B3 revealed.

Rodrigo Nardoni, Chief Technology Officer at B3, said: "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, commented: "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."

Last month, based on Nasdaq technology, the Stock Exchange of Thailand, one of the most actively traded exchanged in Asia, has launched its new trading system​, together with new market data distribution and market surveillance systems.