Nasdaq Partners With B3, Builds Clearing Platform For Brazilian Stock Exchange

Nasdaq Inc NDAQ partnered with B3 to create a new clearing platform for the Brazilian stock exchange.

The platform will facilitate the clearing, settlement, and management of counterparty risk related to financial market trades.

As per the multi-year deal, Nasdaq will use its expertise to offer real-time clearing solutions to over 20 central counterparty clearing houses globally.  

In exchange, The Brazilian stock exchange will aid gradual advancements in Nasdaq's clearing platform by providing a vast portfolio of financial products and sharing the experience of operating demanding and high-volume markets.

"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," said Roland Chai, Nasdaq's Executive Vice President and Head of Marketplace Technology.

Also Read: Nasdaq Transfers Its European Power Business To EEX For Undisclosed Sum

Last month, Nasdaq disclosed the pricing of a public offering of $4.25 billion and €750 million senior notes offerings to fund the pending acquisition of Adenza Holdings, Inc. 

Price Action: NDAQ shares are trading higher by 0.04% at $48.99 premarket on the last check Monday.