B3 builds SaaS brokerage platform on Oracle Exadata Database Service
Brazil’s financial market infrastructure leader uses Exadata Database Service and OCI Kubernetes Engine to bring São Paulo stock exchange to the cloud.
“The Oracle partnership and OCI technology provide a very solid foundation to grow. Oracle provides solutions we can trust, and they make our business better.”
Business challenges
B3 runs the trading, clearing, settlement, and registration platforms for the São Paulo Stock, Commodities and Futures Exchange, making it one of the world’s largest financial market infrastructure companies. The company’s brokerage management application, SINACOR, is used by 95% of Brazilian brokerage firms for daily digital trading and to provide trading software and services for their customers.
But SINACOR relied on legacy packaged software that ran on-premises at each brokerage company, leading to inevitable issues with version control and performance. The cost of maintaining the legacy software was too high, and bringing new capabilities to market quickly was too difficult. The company needed to reinvent SINACOR as a cloud-based software service.
With Exadata Database Service and OCI Kubernetes Engine, what used to be a nightly batch process is now processed immediately so that client trading, settlement, and related data can be used by brokers and their customers on the same day.
Why B3 chose Oracle
B3 chose Oracle Exadata Database Service and OCI Cloud Native services such as OCI Kubernetes Engine and Oracle Container Instances to modernize the SINACOR application and deliver it as a cloud service. The company decided on Oracle Cloud Infrastructure (OCI) after researching many cloud providers, citing OCI’s performance and reliability. Oracle Exadata Database Service offers B3 transaction processing and data lake capabilities in a simplified architecture. OCI and Exadata Database Service provided SINACOR the compute power and transaction speed to handle the trading environments and other services for nearly the entire Brazilian brokerage market.
Results
After B3 developed a cloud native version of its SINACOR software and delivered it to brokers across the Brazilian financial sector, the OCI-based application easily handled 20 million transactions a day. It also provided 4X faster transaction processing for brokers and their clients, with quick scale-out to manage workload spikes.
B3’s development organization offered a much-improved user experience with the new application. With SINACOR running on OCI, B3 has all of its customers on a single, up-to-date implementation of the application, which helps B3 innovate faster while protecting the company from losing customers to fintech startups.
About the customer
B3 is a Brazilian financial market infrastructure business. A publicly traded company, B3 offers stock trading, clearing, and other post-trade services.