CASE STUDY

“ With Vermiculus as a partner in developing the nuam exchange post-trade systems , we are marking a new milestone for the unification of our markets . In addition to gaining a cutting-edge technological partner , we envision the possibility of enhancing our customers ’ experience through dynamic technological architecture in line with the needs of the integrated market ,” said Juan Pablo Cordoba , CEO , nuam exchange .

Vermiculus is a fintech based in Stockholm , Sweden .

Although it only started operating in 2020 – the year the nuam exchange project began – Vermiculus is already recognized as a leading provider of technology solutions for exchanges , clearing houses and central depositories worldwide .

With this new partnership together with nuam exchange , Vermiculus ’ products will be present in the four largest financial markets in Latin America .

“ We are proud to deliver a system that plays an integral role in the core of this historical merger , empowering one of Latin America ’ s most crucial markets with VeriClear ’ s state-of-the-art technology , together with our deep market expertise ,” said Taraneh Derayati , CEO , Vermiculus .

“ We look forward to bringing our forefront technology and sharing our industry knowledge with nuam exchange throughout this project and beyond .”

Cordoba confirmed the new clearing system will include trade and position management , settlement processing , collateral management and risk

Nuam and Nasdaq

In December 2023 , Nasdaq and nuam exchange – an integration of the Santiago , Lima and Colombia Stock Exchanges – announced a strategic alliance to technologically support the integration , development and expansion of the single capital market platform for the negotiation of variable income instruments and derivatives implemented by the new stock market .

nuam exchange pitches itself as seeking to establish a new , unique , open and transformative market that strengthens local economies , while positioning itself as a leader in the global exchange industry .

It aims to offer an integrated market across multiple asset classes and market infrastructures , expanding its range of products and services as it expands .

Nasdaq welcomed the opportunity to partner with nuam exchange and provide a flexible , scalable technological platform capable of supporting the ambitious project of this new stock market .

As an essential technology provider in more than 130 financial market structures globally , Nasdaq technology will be a powerful element in developing this new exchange – ensuring its fairness , resilience and platform performance .

By standardizing access to the capital market through standard interfaces ( APIs ), nuam exchange will significantly increase ease , while reducing access costs .

Additionally , risk controls will help ensure quality and trust in the market , helping to attract larger global participants and strengthen liquidity .

“ This strategic and technological alliance will give us the ability to position nuam exchange on a world-class stage . Having Nasdaq ’ s technology , reliability and experience will take us to the next level in this process ,” said Juan Pablo Córdoba , CEO , nuam exchange .

Tal Cohen , leader of Nasdaq ’ s Market Platforms business , said : “ Combining Nasdaq ’ s world-class technology with the consolidation of these three exchanges is an exciting opportunity .

“ Global capital markets increasingly demand robust and resilient technologies , capable of withstanding increasing volatilities and volumes . Reliable and well-functioning markets are critical to inclusive growth and prosperity and we are pleased to support the continued development of nuam exchange in Latin America .”

The nuam exchange is the first multi-country merger of stock exchanges , grouping the Chilean , Colombian and Peruvian

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