Brazilian financial exchange operator, B3 has accredited London-based capital markets software provider, Genesis Global Technology to leverage the latter’s low-code application platform (LCAP) for Brazil’s financial markets.
The partnership will help speed up the digitisation of trading workflows at reduced costs in an effort to mitigate risk and increase efficiencies. B3 taps into Genesis’ Proof-of-Concept (PoC) to process and test millions of real-time post-trading allocation messages. This allows for much faster deployment, with PoC application already integrated with B3’s existing infrastructure architecture within six weeks, as well as increased functionality and a material reduction in data processing errors.
“We conducted a thorough market assessment on Low-Code Platforms and Genesis emerged as the leading low-code firm, one that is uniquely designed for the standards of software development within financial markets. As the industry grows and matures, Genesis LCAP provides the building blocks and agility to address the Brazilian market’s very specific requirements across asset classes market trading infrastructure,” said Paulo D’Angelo, Managing Director at B3.
Genesis bills itself as the low-code platform for capital markets software development, which enables the rapid creation of products and solutions without having to write substantial lines of code. The paradigm has increasingly gained momentum in the financial industry as it enables relevant service providers to build their own solutions faster and simpler.