Risk Services

 In order to provide access to its systems, methodologies and risk and margin simulators, B3 now offers API (Application Programming Interface) solutions to the market. APIs can be used to enable clients to integrate their systems into B3’s systems quickly and in an easy-to-maintain manner.

Margin Simulator

The Risk Margin Simulator service provides fast, easy and direct access to CORE (Close-Out Risk Evaluation), a propietary integrated risk calculation system developed by B3.

Through the simulator, managers, investment funds, financial institutions and Brazilian and international vendors can simulate scenarios for the so-called collateral margin of their respective asset portfolios or of their clients’ portfolios.

The service is offered via API (Application Programming Interface) or through a Microsoft Excel plugin. For this, we developed a spreadsheet that can be used by contracting users to speed up access to the service.

Web Margin Simulator

Created to provide quick access to B3's integrated risk calculation system, the tool allows investors to perform up to 10 simulations per day from the creation of a portfolio.

The great differential of this innovation is that it provides more autonomy to investors, who will no longer need to contact their brokers or financial institutions whenever they need strategic information.

Besides bringing independence, the Margin Simulator allows the creation of hypothetical portfolios with up to 20 positions and promotes the transparency necessary for the investor to have an estimation of the financial values needed to make a derivative transaction.

The tool can be accessed through the address https://simulador.b3.com.br.

Real and Hypothetical portfolio

The user will be able to create hypothetical portfolios composed of the assets he wishes to simulate and obtain information about the collateral necessary for the operation.

In addition, with the new launch of the simulator, the user is now able to import his portfolio directly from B3, both for end of day (EoD) and intraday positions, updated in real time.

Close-out Cash Flow

When you contract B3’s Margin Simulator, you also gain access to the Close-Out Cash Flow, a solution that allows you to simulate cash flow at the close-out of asset portfolios, thus providing greater security when setting strategies for portfolio settlement.

In choosing this option, you will need to configure an API or a specific Excel plug-in to access the Close-Out Cash Flow tool. From there on, whenever you simulate a portfolio's settlement cash flow, simply enter the tool and include the hypothetical portfolio. The system generates information on consolidated margins (collateral, positions and balance), collateral type (Brazilian Government Bonds, stocks, BRL, UDS, international bonds) and positions in multiple markets and asset classes (equity, option, Sec Lending, futures, forward, etc).

Key Features

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  Reliability and accuracy

  The calculations are generated by the CORE on the same platform that processes the B3 Clearinghouse risk management. The system has an extremely complex calculation method with more than 10,000 risk scenarios evaluated, allowing the generation of margin calls.

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  Capital allocation efficiency

  The CORE system enables greater efficiency in capital allocation as it performs the joint risk evaluation of heterogeneous portfolios, which are composed of different types of assets, contracts and collateral in the markets managed by B3. Learn more about CORE.

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  Access to B3’s risk system

  The Margin Simulator meets the demand of analysts and buy-side managers for risk management-related IT services, allowing direct market access to the CORE system.

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  Real time simulations

  The Margin Simulator tool allows simulation of margin calls at any time within the CORE's operating hours (from 7:00 a.m. to 9:30 p.m. on weekdays).

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  End user’s strategy protected

  By using the CORE integration, end users can access the system directly without the need to expose their strategy to intermediaries. It should be noted that, since they are part of the responsibility chain for collateral management and use, all B3 Clearinghouse participants already have access to risk systems, including the Margin Simulator. Such access is provided by B3’s systems.

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  IMBARQ file upload

  Through the CORE integration via spreadsheet it is possible to upload the iMercado's reconciliation module file – IMBARQ file. This file contains the previous day’s closing positions of a given client, thus reducing operational risks when inputting information in case the simulator user wishes to test the margin call of their portfolio. Learn more about iMercado.

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  Simulation with real porfolios

  Through the integration with B3 internal systems, RTC (Real Time Clearing) and CORE (Close-out Risk Evaluation), it is now possible to obtain the client's real portfolio to perform simulations, end-of-day (EoD) or updated during the day (intraday). The functionality can be accessed through the plug-in for Microsoft Excel made available by B3 or through the new APIs developed.

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  Next steps

  Next step: B3 will develop a more detailed result for the margin calculation, which is currently consolidated by segments (stocks, options, futures, etc) and will be described by assets (PETR3, DOLF30, LFT/2024-03-01/210100)

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  Web Margin Simulator

  With the web margin simulator (https://simulador.b3.com.br/) it is possible to perform up to 10 daily simulations with portfolios of up to 20 positions. You can also consult the tool's Frequently Asked Questions (FAQ) document at https://atendimento.b3.com.br/atendimento

 

How to contract

Contracting the Margin Simulator service is done by signing a B3 Agreement for Access to Technology Infrastructure and Technology Systems and Services.

To contract the Margin Simulator service or obtain further information:

Required documents