Calypso Develops Blockchain for FX Trade Matching on its Cloud

Calypso Technology, a provider of capital markets and investment management software, announced today that it is developing a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term application for FX trade matching confirmations with a group of global financial institutions. This is done in collaboration with the R3 consortium which Calypso partnered with last year.

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The developers explain that R3’s Corda platform was used to carry out trade matching tests in real time around the world, connecting to the Calypso Cloud application. Participants included Westpac Banking Corporation in Sydney, ING in Amsterdam, BBVA in Madrid, Banco de Credito del Peru (BCP) in Lima, and a large investment management firm in the US. These institutions each used a node on Corda to enter FX trades with one another, validate them and confirm matching.

Tej Sidhu,Chief Technology Officer at Calypso, comments: “This is a leap into a new era. Calypso provides a completely integrated experience with the Corda DLT platform where golden copies replace a series of electronic messages, and where technology replaces human intervention and manual reconciliation. Calypso recognizes DLT and Blockchain as new standards of operation efficiency and transparency. We are very pleased to reach this milestone.”

Todd McDonald, co-founder of R3, comments: “Corda is the only DLT platform designed from the ground up to address the specific needs of the financial services industry. This test is a perfect example of its ability to meet banking requirements in areas such as identity, privacy, security and Scalability Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Read this Term. We look forward to pursuing the next stage of development with Calypso.”

Victor Gamero , FX Trader at BCP, comments: “Beyond the obvious gain that this new matching methodology provides, we were very impressed by the mitigation of operational risks.”

Alicia Pertusa, Head of CIB Digital Strategy at BBVA, said: “Disruption in capital markets needs to reach massive adoption. Calypso & R3, as key market players and infrastructure providers, are well positioned to overcome this difficult challenge.”