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B3 and Nasdaq Join Forces to Develop New Clearing Platform for Brazilian Stock Market

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In a significant move for the Brazilian stock market, Nasdaq has announced a multi-year partnership with B3, operator of the São Paulo stock exchange. Under the partnership, the two companies will develop a new clearing platform designed to serve all markets currently settled through B3’s clearing house.

This partnership aligns with B3’s long-term strategic vision of collaborating with global partners to bring the best available technologies to the Brazilian market. The goal is to 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 will involve close collaboration between the engineering teams of both companies. This exchange of knowledge is expected to drive incremental improvements in Nasdaq’s clearing platform.

“We are working diligently to ensure that our clients have access to the best solutions available in the market, always aiming at improving our services, increasing capacity and availability, and offering better time to market,” commented Mario Palhares, Chief Operating Officer – Electronic Trading and CCP at B3.

Rodrigo Nardoni, Chief Technology Officer at B3, added: “Through a phased migration process, B3 will gradually transform its clearinghouse solution onto a new platform, reinforcing our strategic commitment to technological innovation and capturing direct benefits for our clients.”

Nasdaq’s real-time modular clearing solutions offer high-velocity clearing, settlement, and risk management capabilities across a wide range of asset classes. The partnership with B3 promises to bring about a new era of technological innovation in the Brazilian stock market, offering direct benefits to clients and bolstering the market’s capacity to handle its rapid expansion.

Roland Chai, Nasdaq’s Executive Vice President and Head of Marketplace Technology, said: “Incorporating Nasdaq’s clearing technology has the power to bring substantial benefits to B3 and support the rapid growth of the Brazilian market. We also welcome the opportunity to enhance our own post-trade products and solutions by collaborating with innovative market infrastructure groups like B3.”

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