B3, Nasdaq partner on new clearing platform

B3 and Nasdaq have announced a partnership 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.

The agreement is another step in B3’s long-term strategic vision of working with global partners to bring the best technologies available to the Brazilian market. It 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 providing real-time clearing solutions to over 20 central counterparty clearing houses (CCPs) 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.

Mario Palhares, Chief Operating Officer – Electronic Trading and CCP at B3, commented:

“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, added:

“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.”

Nasdaq’s Executive Vice President and Head of Marketplace Technology Roland Chai says:

“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.”

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.