B3 brings lending to new clearing platform
30 August 2017 叠谤补蝉铆濒颈补
Image: Shutterstock
Brazilian exchange and clearinghouse B3 has moved corporate bonds and equities lending to its new multi-asset clearing platform, in the latest phase of its pos-trade overhaul.
The migration marks the second phase of B3鈥檚 post-trade integration project that will consolidate its four clearinghouses into a single entity.
Once complete, the platform will manage all equities, derivatives, government and corporate debt securities and foreign exchange activities.
Derivatives and over-the-counter (OTC) products migrated earlier this year.
The clearing solution was delivered by Cinnober, built on its TRADExpress RealTime Clearing system.
According to B3, the completion of the second phase allows BRL 21 billion (USD 6.64 billion) of collateral to be returned to the market without compromising its liquidity standards.
This is in addition to the BRL 20 billion (USD 6.32 billion) unlocked in the initial phase of consolidation.
鈥淲ith this launch, Brazil鈥檚 financial and capital markets are obtaining new levels of operating excellence,鈥� said C铆cero Augusto Vieira Neto, COO of B3. 鈥淏y integrating the markets in a single clearinghouse, using a real-time clearing solution we鈥檙e able to offer more capital efficient post-trade services, improve daily liquidity, and reduce operating costs.鈥�
鈥淲ith an infrastructure capable of absorbing ever larger volumes, B3 has paved the way for further market growth, and the system鈥檚 flexibility lets us respond quickly to the market鈥檚 needs.鈥�
The migration marks the second phase of B3鈥檚 post-trade integration project that will consolidate its four clearinghouses into a single entity.
Once complete, the platform will manage all equities, derivatives, government and corporate debt securities and foreign exchange activities.
Derivatives and over-the-counter (OTC) products migrated earlier this year.
The clearing solution was delivered by Cinnober, built on its TRADExpress RealTime Clearing system.
According to B3, the completion of the second phase allows BRL 21 billion (USD 6.64 billion) of collateral to be returned to the market without compromising its liquidity standards.
This is in addition to the BRL 20 billion (USD 6.32 billion) unlocked in the initial phase of consolidation.
鈥淲ith this launch, Brazil鈥檚 financial and capital markets are obtaining new levels of operating excellence,鈥� said C铆cero Augusto Vieira Neto, COO of B3. 鈥淏y integrating the markets in a single clearinghouse, using a real-time clearing solution we鈥檙e able to offer more capital efficient post-trade services, improve daily liquidity, and reduce operating costs.鈥�
鈥淲ith an infrastructure capable of absorbing ever larger volumes, B3 has paved the way for further market growth, and the system鈥檚 flexibility lets us respond quickly to the market鈥檚 needs.鈥�
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