MEMX and CSD BR Sign MoU to Bring Competitive Trading Infrastructure to Brazil

Partnership combines MEMX's proven US exchange technology with CSD BR's established Brazilian financial market infrastructure

NEW YORK & SAO PAULO--(BUSINESS WIRE)--MEMX, a technology-driven exchange operator founded by members to benefit all investors, and CSD BR, an established Brazilian financial market infrastructure (FMI), today announced the signing of a Memorandum of Understanding (MoU) to jointly explore the launch of a second trading venue in Brazil.

Brazil is the world’s 11th largest economy and home to the 19th largest capital market globally. Despite its scale, Brazil’s capital markets remain relatively underpenetrated, and both MEMX and CSD BR believe there is significant opportunity to expand market access, increase competition and drive continued growth across the financial ecosystem.

The proposed partnership would combine MEMX’s global trading connectivity, exchange operating expertise and institutional credibility with CSD BR’s local market knowledge, regulatory experience and established infrastructure.

Together, the companies believe they can provide a credible path toward a more competitive trading environment in Brazil that benefits investors, intermediaries and issuers alike.

As a new entrant in Brazil’s financial market infrastructure ecosystem, CSD BR has already helped market participants save more than R$1 billion annually in fees and catalyzed more than R$200 billion in new OTC swap market value through broader access and lower costs. Today, the company operates as a fully functional FMI with approximately 90 participants across its platforms and more than 1,500 investment funds operating within its ecosystem. CSD BR currently holds approximately 40% market share in OTC swap registration and 6% in time deposits, and has settled more than R$100 billion in transactions this year alone.

With a diverse shareholder base that includes leading domestic and international institutions, as well as a demonstrated track record of execution, CSD BR provides a strong foundation for the initiative.

MEMX owns and operates high-performance U.S. equities and options exchanges built by and for some of the world’s most sophisticated market participants. Its technology is proven at scale, trusted across the U.S. market and designed for global deployment and expansion.

MEMX Market Technology was created to provide exchange operators with a customizable, multi-asset-class, end-to-end market technology solution that reduces the cost and complexity associated with launching and scaling trading venues. Through its managed market infrastructure model, MEMX provides partners with access to its proven exchange technology and operational expertise without requiring them to build and maintain dedicated systems independently.

MEMX Market Technology currently powers two additional U.S. equity exchanges and an alternative trading system (ATS), delivering access to a high-performance, low-latency and deterministic trading platform. MEMX’s technology is product agnostic and designed to support multiple asset classes and market structures. In addition, MEMX’s existing global participant network could help facilitate cross-border capital flows into Brazil and accelerate liquidity formation in a new venue.

"We are thrilled to partner with MEMX. We see a significant opportunity to enhance connectivity with market participants through technology that is already trusted and used globally - and to accelerate capital flows along the north-south axis via MEMX's platform. In today's emerging market landscape, we believe this initiative represents a meaningful opportunity for Brazil." - Daniel Miranda, CFO, CSD BR

“MEMX’s mission is to foster positive competition across global capital markets,” said David Mellor, Head of Market Technology. “Partnering with CSD BR to expand into Brazil is a natural extension of that vision and builds on the strong momentum we’ve already achieved in our market technology business. We’re excited to bring our proven, innovative platform to a new region and work alongside CSD BR to support the continued evolution of Brazil’s capital markets.”

MEMX

MEMX is a technology-driven exchange operator serving the global investment community. It offers a simpler, more cost-effective, and transparent way to access liquidity through its MEMX Equities and MEMX Options exchanges, as well as by licensing and operating MEMX technology for clients. MX2 Options, a new pro-rata exchange will go live in 2026, bringing the total number of markets operated by MEMX to six. Founded in 2019 by a diverse group of financial firms, MEMX’s mission is to create healthy competition and advocate for market structure reform that results in more efficient and sensible trading experiences for all investors. https://memx.com/

About CSD BR

CSD BR is a Brazilian financial market infrastructure operating as a central securities depository (CSD), trade repository (TR) platform and securities settlement system (SSS). With approximately 90 participants, over 1,500 investment funds operating in it platform, and 45% OTC swap market share, CSD BR plays a central role in the development of Brazil's capital markets.
www.csdbr.com