Brazil-based Itaú has selected the Genesis platform from Genesis Global to provide a trade automation and client portal system for Itaú Securities.

It will consolidate trade and portfolio information, as well as improving the experience offered to clients of Itaú Securities.

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In addition, it will automate pre-trade workflows, minimising data checks, trade entry, order routing and other administration required.

Marcelo Aagesen, managing director, global markets and strategy at Itaú Securities, said: “Genesis has the expertise to understand our challenge and the technology to deliver an effective, modern solution.”

Alberto Tani, head trader at Itaú Securities, added: “This partnership is part of our continued digital transformation, and we expect the new system to improve the experience we offer our clients.”

“The challenge at Itaú is the perfect environment for the Genesis platform,” said Stephen Murphy, co-founder and CEO of Genesis. “We have the ability to quickly automate a range of proprietary workflows and integrate with multiple internal and external technologies to create a modern, high-performance system that will enhance how Itaú serves its clients and manages its trading operations.”

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Itau Unibanco has signed a deal to buy a 35% stake in regional brokerage firm Avenue Holding Cayman for approximately $92m (BRL493m).

The deal consideration includes a cash injection of BRL160m and a secondary share purchase.

The Brazilian lender is eyeing the controlling stake in Avenue and intends to acquire an additional 15.1% stake in the firm after two years from the closing date of the first tranche.