B3 Live with the First Phase of its New Cloud-Native CSD System

The Brazilian marketplace operator B3 has in December 2024, in partnership with Vermiculus Financial Technology, successfully deployed the initial phase of its new, elastically scalable, cloud-native CSD system.  

With the new scalable CSD system, based on Vermiculus’ microservice-based VeriSafe™ product, B3 will be able to handle expansive growth in the Brazilian market, preparing for e.g., a ten-fold increase in terms of capacity.  

The new CSD platform provides B3 with a state-of-the-art CSD system, supporting extended opening hours as well as new functionalities, such as new reports for its market participants. The VeriSafe™ microservice architecture also allows for rapid time-to-market. 

“Our new, scalable CSD system has been successfully deployed, offering immediate benefits to our participants. By taking a gradual, soft-launch approach, we’ve ensured a seamless transition while maintaining stability and continuity for all users. This technology enabling us to scale effectively while introducing innovative functionalities to enhance operational efficiency for our participants,” comments Viviane Basso, B3’s Chief Operating Officer – Issuers, Depository and OTC. 

Viviane Basso, B3’s Chief Operating Officer – Issuers, Depository and OTC

The scalable Vermiculus CSD system, VeriSafe™, is designed to meet the demands of large and complex depositories, capable of handling exceptional volume peaks while supporting a wide range of asset types and complex corporate actions. ​By using a unique microservice architecture, the system enables full efficiency whilst remaining reliable and robust.  

“We have together designed a brilliant approach to a phased replacement of the current CSD, where we are combining a stable roll-over with providing market value from the very beginning. By initially running in parallel with the existing CSD, we ensure stability in the changeover. More importantly, we provide great value to the market, as we provide desired new functionality and market output to the participants from the very beginning,” says Taraneh Derayati, CEO of Vermiculus.  

Parallel with the deployment of phase 1, B3 and Vermiculus continue to work on second phase of the CSD project, where a wide range of different transaction types will be re-directed and processed directly by the VeriSafe™ system, making it the golden source of depository information. This iterative development will allow for continuous improvements, positioning the new CSD system as an adaptable and resilient solution in a rapidly changing market.