Analyse B3 CORE margin with a clear calculation basis.

Cumulus9 provides an independent implementation of B3 CORE for supported portfolios. Bring contract identities, quantities and dated parameters together to assess margin and investigate differences against an appropriate reference.

Discuss your portfolio

From portfolio to a decision

  1. Step 1

    Confirm instrument coverage

    Identify each contract by the required product, expiry and option terms. Confirm the instruments your workflow needs before relying on a portfolio result.

  2. Step 2

    Calculate on a dated basis

    Submit supported positions through the Cumulus9 portfolio workflow. Keep the parameter date and calculation inputs alongside the result so later comparisons have a clear reference.

  3. Step 3

    Investigate the comparison

    Align the positions and reference scope, then review differences with the known replication limits in mind. A calculated estimate is not an official B3 margin call.

CORE considers the closeout process

B3’s Close-Out Risk Evaluation methodology measures risk during portfolio closeout. Its official description considers market risk, liquidity risk and cash-flow risk, including the joint risk of positions and collateral. These describe B3’s methodology; confirm the inputs and features available for your Cumulus9 workflow separately.

Independent replication has explicit limits

The precision of published risk-factor inputs can differ from the inputs used in B3’s own calculation. Cumulus9’s replication can therefore differ from an official result even when the portfolio appears identical. Supported instrument coverage and known model differences also need review. No exact-match result or fixed error tolerance is promised.

  • Use an agreed reference with the same date and portfolio scope.
  • Check exact expiry, strike, option type and quantity before comparing.
  • Treat unsupported instruments or unresolved differences as items for investigation.

Start with a representative portfolio

A synthetic book containing the products and strategies you use gives the evaluation a concrete basis. Agree the required outputs and comparison process before connecting the calculation to daily controls. Keep any broker overlays, collateral assumptions and wider cash-call components distinct from the margin measure under review.

Questions before you integrate

Does this page describe the official B3 API?
No. It describes Cumulus9’s independent CORE replication. An official B3 API service is a separate access and integration arrangement; it is not implied by this page.
Will every result exactly match B3?
No. Published input precision, instrument coverage and model differences can affect the comparison. Evaluate your required portfolio scope against dated reference results and agree how differences will be handled.
Is this a retail broker margin schedule?
No. This is an institutional portfolio calculation workflow. A broker may impose separate requirements, and its customer margin schedule or cash call should not be treated as interchangeable with a CORE calculation.

References

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Postal address
30 St. Mary Axe, London, EC3A 8BF
Phone number
+44 (0) 20 7205 4090
Email
info@cumulus9.com

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