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.
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Genesis Integrates Symphony’s Collaboration Platform
Firms looking to digitise manual workflows can benefit from Genesis Application Library which offers a suite of products, ranging from interest rate pricing to a wealth management portfolio structuring product.
The news of B3 integration comes as part of a series of upgrades made by Genesis recently. Last month, it deployed Symphony’s collaboration platform, which offers secure collaboration and workflow technology. Teaming up with Symphony allows users to communicate and distribute content directly from the ecosystem of applications already running on Genesis.
Stephen Murphy, CEO of genesis, notes: “We are privileged that B3 has chosen to partner with Genesis. We are immensely proud that we continue to deliver these exceptional applications all built on the Genesis Low-Code Application Platform. We believe our relationship with B3 is further evidence of our financial markets capabilities and ongoing demand for a low-code application platform to help business leaders and visionaries transform their businesses at pace, at scale and with confidence.”