Tuesday August 1 2023
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Country: Brazil
On 31st July 2023, the Brazilian Stock Exchange (B3) announced that the market will start trading federal public securities on the secondary market through the new Trademate platform, a system for electronic trading of fixed income assets developed entirely in the cloud and which will replace the Trader trading platform.
The first products traded on Trademate are the NTNB, LFT and NTNC indexed federal public securities; LTN and NTNF pre-fixed government bonds; and matched operations. The other products will be introduced in phases, which will last until the first half of 2024.
In the second stage, the following products will be migrated: Agribusiness Receivables Certificate (CRA), Real Estate Receivables Certificate (CRI), Closed Funds Quotas (CFF), Debentures and Decarbonization Credit (CBIO). Commercial Notes (NC), Financial Bills (NF) and other publicly issued securities will be inserted into the platform in additional stages.
Currently, all stages that take place in the secondary fixed income market, from trading to settlement, still use file exchanges between participants to carry out operations, which ends up impacting the number of trades throughout the day. The new platform will deliver these features automatically and integrated with the B3 depository, which will allow for an increase in time and, consequently, the trading volume of these assets.
The migration of the fixed income trading platform to the cloud is part of the B3 platform modernization project that the company has been working on since last year, when it announced a partnership with Microsoft and Oracle.
Benefits of the Trademate platform
- Infrastructure developed in the cloud, with high availability and simplified processes such as FIX messaging (communication protocol adopted in the international standard);
- Integration with B3 and third-party post-trade systems;
- Connectivity with other B3 electronic trading systems, facilitating the implementation of trading strategies for clients;
- Processing of high volumes of messages using a minimal infrastructure, bringing lower latency and productivity to operations;
- Real-time sending of information on market offers available on the B3 platform (Market Data), ensuring greater timeliness of information;
- Consolidation of businesses on a single platform and integration with B3’s Fixed Income Calculator, which will bring greater transparency and update the reference prices of traded assets;
- Business report executed with B3 subscription (Drop Copy);
- Friendly and customizable interface, favoring the fluidity of user interaction with the platform;
- Environment prepared to trade new assets in the future, including foreign securities and interest rate derivatives.
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