STT’s Spot Commodity and Commodity Derivative Exchange Solution Goes Live on Balcão Agrícola do Brasil

‍STT is pleased to announce the successful go-live of its web-based, cloud-hosted Spot Commodity and Commodity Derivative Exchange Solution on Balcão Agrícola do Brasil (“BAB”).

This advanced platform is designed to enhance the efficiency and transparency of trading in agricultural commodities and derivatives, offering seamless access to both spot and derivative markets. As a fully managed cloud-hosted solution, it provides scalability to support future growth while delivering a reliable and flexible trading environment for exchange members and traders. BAB can now easily list a range of spot and derivative products, catering to the diverse needs of its participants.

The project began in July 2022 with detailed planning sessions and customization discussions. Throughout late 2022 and 2023, STT worked closely with BAB’s team to implement essential features, including translation capabilities and custom reports. As part of the User Acceptance Testing (UAT) process, a successful demonstration with the Securities and Exchange Commission of Brazil, took place between July 10^th and 11^th of 2024. Following this, the exchange received regulatory approval on August 6, 2024.

A unique aspect of this project was the customization of STT's solution to include functionality for OTC Commodity Trading, providing BAB with a comprehensive system for its OTC Exchange, while retaining the ability to launch regulated, centrally cleared products in the future.

Zack Hodgson, Managing Director of STT Mauritius, shared: “We are thrilled to partner with Balcão Agrícola do Brasil on this project. The platform we’ve deployed not only meets the current trading needs of the exchange but also positions it for future expansion. By embracing cloud-hosted infrastructure, BAB is well-prepared for continued growth and to meet the evolving demands of the agricultural sector.”

Eric Cardoni, Director of Balcão Agrícola do Brasil, said: "We are extremely pleased with the decision to work with STT.  They offer a complete technological solution for our exchange as well as a high level of expertise and knowledge about exchange operations.  STT has been fundamental during the entire process of taking Balcão Agrícola do Brasil from an idea in a presentation to a licensed OTC exchange."

Throughout the project, the STT and BAB teams maintained close collaboration, fostering an environment of open communication. This real-time interaction allowed both teams to rapidly address issues and maintain transparency, ensuring the project remained on track and met its key deadlines.

This go-live further strengthens STT’s reputation as a trusted partner in the financial technology space, with the flexibility to meet specific client needs and ensure scalability for future developments.

About Balcão Agrícola do Brasil

Balcão Agrícola do Brasil (BAB) was founded in 2022 with the mission to provide the best risk management tools for Brazilian agribusiness.  BAB is a regulated OTC exchange that offers trading and register of standardized commodities derivatives contracts denominated in Brazilian Reais with physical delivery.  Brazil plays a crucial role in the global supply chain of many agricultural products, and now the sector will have access to world class tools to manage price risk.  

About STT

STT is a trusted, leading provider of financial market software and solutions for businesses worldwide, renowned for its state-of-the-art, flexible, and innovative technology offerings. Its core products cover exchange, trading, surveillance, clearing, depository, risk management and back-office solutions, customised as necessary to meet clients’ unique needs. Backed by unparalleled service and ongoing support, STT’s dedicated and experienced team is committed to developing products that are easy to use and reliable, empowering its clients in driving their businesses forward.