Financial markets infrastructure firm, The Depository Trust & Clearing Corporation (DTCC), announced today that it has selected IBM, Axoni and R3 to create a blockchain framework to improve the derivatives post-trade lifecycle. This marks an important real world application for the technology as the DTCC’s current Trade Information Warehouse (TIW) automates more than $11 trillion of cleared and bilateral credit derivatives.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong.
Kohle Capital Strengthening Retail OfferingGo to article >>
David Rutter, CEO of R3, stated: “We’re very excited to be working with this team, as DTCC seeks to enhance its derivatives processing technology. Distributed ledger technology is a natural fit for derivatives processing. By recording and automatically managing shared records of financial agreements in the cloud without error, it can minimize the steps required for post-trade processing and free up middle and back office staff from the onerous task of reconciliation.”