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.”

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