B3 and Nasdaq (NASDAQ:NDAQ) have announced a partnership to develop a new clearing platform for the Brazilian stock exchange, responsible for the clearing, settlement, and management of counterparty risk associated with financial market transactions.
The agreement is another step in B3’s long-term strategic vision of working with global partners to bring the best technologies available to the Brazilian market. It will support the ongoing evolution of its platform to meet the needs of a rapidly expanding market, which demands a continuous focus on innovation.
The multi-year work schedule between B3 and Nasdaq will see close collaboration between engineering teams, drawing on Nasdaq’s expertise providing real-time clearing solutions to over 20 central counterparty clearing houses (“CCPs”) worldwide. The Brazilian stock exchange, in turn, will share its unique experience of operating demanding, high-volume markets, and offering a broad portfolio of financial products, to drive incremental improvements in Nasdaq’s clearing platform.
