06 September 2017
São Paulo
Reporter: Drew Nicol

Brazilian exchange smoothes post-trade systems with Pirum

The Brazilian stock exchange B3, formally BM&F Bovespa, has streamlined its post-trade services to improve file standardisation.

The post-trade integration (IPN) project was completed on 28 August 2017 via B3's IMBARQ trade file.

A Pirum spokesperson said: “The IPN project overhaul of B3’s trade reporting process via the IMBARQ file offered an opportunity for Pirum to work with its clients and the new files generated by the exchange to standardise the reconciliation process for Brazilian stock lending activity.”

Pirum was already established in providing its clients with Brazilian trade reconciliations for a number of years prior to the IPN upgrade, with clients historically reliant on bespoke trade files sourced from their local custodians.

The new file standardisation enables Pirum to expand its offering of Brazilian trade reconciliations without the challenge of associated custodian file nuances.

The move to the IMBARQ trade file comes as part of a comprehensive overhaul of B3’s post-trade system, which will see its four clearinghouses consolidated into a single entity.

B3 is the product of the merger of Brazilian exchange BM&F Bovespa and Cetip, Latin America's largest depository for over-the-counter (OTC) securities and derivatives, in April.

B3 recently moved corporate bonds and equities lending to its new multi-asset clearing platform as part of the second phase of project.

Once complete, the platform will manage all equities, derivatives, government and corporate debt securities and foreign exchange activities.

Pirum added that it is ready to assist any clients not currently reconciling their Brazilian securities lending activity through its platform.

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
NEX Regulatory Reporting made trade repository under EMIR
24 November 2017 | London | Reporter: Jenna Lomax
The trade repository, which will be based in Stockholm, Sweden, will prepare NEX for its trade operations post Brexit
Al Ramz Capital gains short selling licence
24 November 2017 | Abu Dhabi | Reporter: Jenna Lomax
Al Ramz Capital is one of the first investment providers to offer short-selling in the UAE
BNP Paribas bolsters its senior agency lending roster
24 November 2017 | London | Reporter: Drew Nicol
Adnan Hussain moved from RBC to take up a role as global head of agency lending and head of market and financing services in the UK for BNP Paribas
Hedge funds continue 2017 run
23 November 2017 | Madrid | Reporter: Drew Nicol
Global AUM of hedge funds rose 24 percent to $3.2 trillion in the past two years, according to data captured by IOSCO’s latest market survey.
Goldman Sachs appointed by Thrivent for agent lending
23 November 2018 | Minneapolis | Reporter: Jenna Lomax
Thrivent Financial has appointed Goldman Sachs as it new lending agent
ICMA maps repo and cash bond operations
22 November 2017 | Zurich | Reporter: Zsuzsa Szabo
ICMA has launched a free-to-read mapping directory for more than 80 technology solutions for repo and cash bond operations
FCA publishes MiFID II guide
22 November 2017 | London | Reporter: Jenna Lomax
The guide focuses on the regulatory regime in MiFID II for trading venues and data reporting services providers