Brazil's B3 clearinghouse merger to free $6.4 bln in guarantees

Reuters

Fri, Aug 25, 2017, 3:19 PM

(Corrects to replace post-trading platform and Puma with multi-asset clearinghouse in paragraph 2)

SAO PAULO, Aug 24 (Reuters) - B3 Bolsa Balcão Brasil SA's conclusion of a plan to merge all clearinghouses into one will help free up as much as 20 billion reais ($6.4 billion) worth of collateral deposited by investors, Chief Executive Officer Gilson Finkelsztain said on Thursday.

Finkelsztain told a B3 seminar in the city of Campos de Jordão that the integration of a multi-asset clearinghouse will be finalized this weekend and will start operations on Monday.

($1 = 3.1475 reais) (Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal; Editing by Dan Grebler)

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