The b 3Last Tuesday (10), the official stock exchange in Brazil announced that it will start migrating its platforms and systems to the cloud. To this end, it signed a ten-year agreement with Microsoft and the inspirationwhich have already been partners with the operator and have invested heavily in developing innovative solutions for this storage model.
Project B3 follows the trend of other exchanges around the world, such as Nasdaq, which last December announced an agreement with Amazon Web Services (AWS) to begin migrating their systems to cloud computing. The operator’s goal is to reduce the cost of storing customers’ financial data.
According to Rodrigo Nardone, Vice President of Technology and Information Security at B3, the first five years of the decade will be dedicated to migrating the most cloud-savvy systems, “those from which the benefits can be reaped more quickly. Change,” he says. The proposal for the second phase of the contract is to develop technologies that can help the transition of other systems, such as stock trading.
B3 listen to the experts
A survey of technology companies with compatibility and affinity with the cloud storage model, conducted by Accenture in 2019, recommended that B3 look for dedicated partners to participate in the transition of operator systems to cloud computing.
And so, about a year and three months ago, the Brazilian Stock Exchange began talks and choosing technology partners who could move their systems to the cloud.
Microsoft and Oracle have made a proposal to join forces on this project. The two companies have already designed a joint approach along these lines abroad as well as in Brazil, through a cloud technology agreement signed with TIM in March 2021.
Each company, in Brazil, has two regions with one or more data centers where the communications infrastructure and cloud support servers are located. Since the legislation requires that financial operator customer information and data be stored in the national territory, it is very important, in the case of B3, that Microsoft and Oracle have dedicated structures in Brazil.
Both companies have facilities equipped with interoperability resources, which allows information exchange between data centers in less time. However, it is not yet certain what will be done with the data centers owned by B3 (two owned and one leased). According to Nardone, the operator still does not plan to dispose of the facilities: “The destination will be designed over time,” he adds.
Microsoft and Oracle promise promising innovations
For Tania Cosentino, President of Microsoft Brazil, the goal of the agreement with B3 is to bring “innovations that do not currently exist” to the Brazilian market and “aimed at business transformation.” The executive also says that “in addition to migrating legacy systems, B3 is beginning to operate under the ‘cloud first’ concept, focusing on the cloud, which opens opportunities for co-creation of technology using resources such as artificial intelligence.”
Implementing this approach . says Rodrigo Galvão, Senior Vice President of Technology at Oracle in Latin America Multimedia, which combines the technology developed by many suppliers, will enable the creation of a diverse culture and attract more talents. For him, this would be an innovative teacher.
Also according to Galvão, the adoption of the cloud storage model is important for topics that are increasingly appreciated by companies, such as sustainability. Oracle aims to have 100% of the energy in its data centers be renewable by 2025; 88% of this goal has already been achieved in Brazil.
The engineering teams of the three companies will work together to develop tools that will enable systems migration. To this end, training and accreditation of professionals from various fields that will be involved in the project will be part of the alliance.
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