B3

Multi-asset clearinghouse in Brazil

Cinnober-B3-multi-asset-clearinghouse

The Brazilian Securities, Commodities and Futures Exchange B3 is one of the largest exchange groups in the world and the leader in Latin America.
B3 is the result of the merger between the stock and derivative exchange and clearinghouse BM&FBOVESPA and Cetip, offering services related to registration, central securities depository (CSD), trading and settlement of assets and securities.

The exchange has a fully integrated business model that includes services for trading, registration, clearing, settlement, risk management, and central depository.

Cinnober is rolling out a new clearing system across all B3’s markets to integrate the exchange's four clearinghouses, each running on separate legacy systems, into one single integrated clearinghouse. The multi-asset, real-time solution is based on TRADExpress RealTime Clearing.

The first market to go live on the new technology was derivatives, which is already showing enormous benefits to the clearinghouse and its clients with improved risk management, margin efficiency, and performance. The next market to be migrated is the equities clearinghouse, covering equities, equity options, bonds, and securities lending. This part is planned for production during 2017, and will be followed by the government bonds and FX markets.