#Brazil #São Paulo #B3 #Vermiculus #CSD System

B3 Launches an Innovative Cloud-Native CSD System

In December 2024, B3, the prominent Brazilian marketplace operator, initiated the first phase of its next-generation cloud-native Central Securities Depository (CSD) system. This strategic move was accomplished in collaboration with Vermiculus Financial Technology, aiming to provide an advanced infrastructure capable of meeting the expanding demands of the Brazilian financial market.

The newly implemented system is based on Vermiculus' innovative VeriSafe™ microservice architecture, specifically designed to facilitate scalable operations. This architecture enables B3 to accommodate a potential tenfold increase in processing capacity, preparing the marketplace for significant growth opportunities.

Viviane Basso, Chief Operating Officer for B3’s Issuers, Depository, and Over-the-Counter services, mentions that the new system is expected to deliver immediate benefits for market participants. With a focus on a gradual and soft-launch approach, B3 has ensured that the transition to the new platform maintains operational stability and continuity while introducing innovative features to enhance efficiency for users.

Amongst the notable advancements of the new CSD platform is its provision for extended opening hours and enhanced reporting functionality. The VeriSafe™ architecture not only promises quick market adaptability but also provides an efficient, reliable, and resilient solution able to endure high volume peaks during trading sessions.

As Taraneh Derayati, CEO of Vermiculus, explains, the strategy adopted involves a phased upgrade of the existing CSD. By running the new system concurrently with the current setup, B3 can ensure stability throughout the transition, providing participants immediate access to new features while fortifying the existing services.

The innovation does not stop here; B3 and Vermiculus are already planning the second phase of their CSD project. This next stage will incorporate a wider range of transaction types directly processed by the new VeriSafe system, establishing it as the definitive source for depository information within the marketplace. This iterative approach is indicative of the commitment to continuous improvement and adaptability in an ever-evolving financial environment.

Vermiculus Financial Technology, founded in 2020, has quickly established itself as a provider of pioneering trading, clearing, and CSD solutions worldwide. Their dedication to leveraging advanced technology in response to the ever-growing needs of financial markets aligns perfectly with B3’s vision for future-ready operations.

With B3's deployment of this advanced CSD system, the Brazilian financial landscape is poised for considerable enhancement, offering participants a more robust and innovative framework to facilitate their transactions, streamline reporting processes, and adapt to evolving market conditions seamlessly.