Nuam Exchange and Vermiculus Financial Technology Partner

Santiago, twenty seventh February 2024. nuam change, the entity ensuing from the combination of the Lima, Santiago and Colombia inventory exchanges, introduced a partnership with Vermiculus Financial Technology, a technological options vendor for the monetary business, to implement a contemporary, versatile technological core for the Central Counterparty Clearing Houses (CCP) in Chile, Colombia and Peru.

“With Vermiculus as a associate in growing the nuam change post-trade programs, we’re marking a brand new milestone for the unification of our markets. In addition to gaining a cutting-edge technological associate, we envision the potential for enhancing our prospects’ expertise by means of dynamic technological structure in step with the wants of the built-in market,” mentioned Juan Pablo Cordoba, CEO of nuam change.

Vermiculus is a fintech primarily based in Stockholm, Sweden. Although it simply started working in 2020, the corporate is already acknowledged as a number one supplier of know-how options for exchanges, clearing homes and central depositories worldwide. With this new partnership along with nuam change, Vermiculus’ merchandise might be current within the 4 largest monetary markets in Latin America.

“We are proud to ship a system that performs an integral function within the core of this historic merger, empowering one among Latin America’s most vital markets with VeriClear™’s state-of-the-art know-how, along with our deep market experience,” commented Taraneh Derayati, CEO of Vermiculus, and continues: “We sit up for bringing our forefront know-how and sharing our business data with nuam change all through this undertaking and past.”

The new clearing system will embrace commerce and place administration, settlement processing, collateral administration and threat administration. It can even deal with interoperability, actual time threat monitoring, margining and collateral throughout all three CCPs.

In parallel, nuam change is working with the three nations’ regulators to acquire the required approvals to vary the rules for the CCPs in Chile and Colombia—CCLV and CRCC, respectively—and to acquire approval for making a CCP in Peru, establishing its processes and working contracts.