30 August 2017
Reporter: Drew Nicol

B3 brings lending to new clearing platform

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’s 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.

“With this launch, Brazil’s financial and capital markets are obtaining new levels of operating excellence,” said Cícero Augusto Vieira Neto, COO of B3. “By integrating the markets in a single clearinghouse, using a real-time clearing solution we’re able to offer more capital efficient post-trade services, improve daily liquidity, and reduce operating costs.”

“With an infrastructure capable of absorbing ever larger volumes, B3 has paved the way for further market growth, and the system’s flexibility lets us respond quickly to the market’s needs.”

More news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Hedge funds continue to attract inflows, says J.P. Morgan survey
23 February 2018 | London | Reporter: Brian Bollen
Hedge funds continue to attract inflows, according to a J.P. Morgan 2018 Institutional Investor Survey
SEC votes to extend compliance date for liquidity classification
23 February 2018 | Washington DC | Reporter: Jenna Lomax
The deadline, which will be extended by six months, will provide funds additional time to complete implementation of the final rule's classification requirement
ISDA releases best practice for margin call issuance and response
23 February 2018 | London | Reporter: Jenna Lomax
The ISDA CIC examined the minimum set of fields which is required to communicate the issuance of a margin call, as well as the expected response of a margin call
ESMA gives SSR technical advice
23 February 2018 | Brussels | Reporter: Brian Bollen
Verena Ross, executive director at the ESMA, addressed the Economic and Monetary Affairs Committee of the European Parliament to discuss elements of the short selling regulation
Saxo Bank sees positive growth in 2017
23 February 2018 | Copenhagen | Reporter: Jenna Lomax
Saxo Bank’s reported 33 percent increase in net profit follows the sale of its subsidiary Saxo Privatbank earlier this month
ROBO appoints BNY Mellon as custodian and sec lending agent
22 February 2018 | New York | Reporter: Brian Bollen
ROBO Global, creator of the world’s first ETF to track the global RAAI sector, has selected BNY Mellon to provide the firm with custody and transfer agency services
FCA launches call for input on use of technology for regulation
22 February 2018 | London | Reporter: Jenna Lomax
The Financial Conduct Authority is seeking views on how technology can make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide