London Stock Exchange, Banks and Trading Firms Create Blockchain Group
Several prominent exchanges, trading firms and banks have come together to set up a blockchain-based settlement group that could significantly transition the current securities market in the way of settling securities trades. A group comprising of the London Stock Exchange, UBS, the CME Group, Societe Generale, LCH. Clearnet and Euroclear have formed an initiative to look into the possibilities of bringing blockchain technology to securities trading. As reported by the Financial News, sources familiar with the group have confirmed three meetings that have already taken place in recent....
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A group of banks, exchanges and clearing houses has formed a working body to discuss how blockchain technology might be used to settle transactions. Three meetings have taken place in the past few months between the CME Group, Euroclear, LCH. Clearnet, London Stock Exchange, Société Générale and UBS, according to a report from Financial News that cited sources with knowledge of the discussions. CME Group confirmed its participation to CoinDesk, but declined to comment further. Other alleged participants did not offer comment as of press time. The group is said to be operating under the....
UBS has donated the code for a blockchain-based trading platform to a nonprofit group funding research into a cure for HIV/AIDS. The HEAL Alliance, a nonprofit group focused on supporting HIV research, plans to use UBS's code as part of a platform being developed by London-based financial tech startup Finclusion Systems, with the goal being to ultimately raise money using the technology. The UBS Innovation Lab is one of the backers of the initiative alongside Microsoft, Intel, and the University of California San Francisco Gladstone Institute of Virology and Immunology Center for AIDS....
Nearly half of the members of a blockchain consortium focused on post-trade settlement see the technology achieving wider adoption over the next three to five years. That's according to the results of a survey published today by the Post-Trade Distributed Ledger (PTDL) Group. The survey was conducted last autumn and polled its 45-strong membership. According to the group, 48% of participants said that they see a three-to-five-year timeline for broader industry adoption. And while 29% estimate a shorter time scale (one to two years), the remaining 21% say they expect it could take five....
According to the ETC Group, the ETPs are “100% physically backed and central counterparty cleared.” London-based financial services firm ETC Group will list its entire portfolio of crypto exchange-traded products (ETPs) offering exposure to Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) on Austria’s national stock market.In a Wednesday announcement, the ETC Group said the Wiener Börse, or Vienna Stock Exchange, would be listing three of its crypto exchange-traded products that are “100% physically backed and central counterparty cleared.” These include the firm’s carbon-neutral Bitcoin....
Given the potential applications for distributed ledgers in clearing and settlement, blockchain technology is increasingly drawing interest from major stock market operators. Among the most early and active financial firms exploring the technology have been major US firms including Nasdaq, which has launched its own blockchain-based service for private shares; the New York Stock Exchange (NYSE), which in 2015 invested in bitcoin exchange provider Coinbase; and the Australian Securities Exchange (ASX), which is working with Digital Asset Holdings to develop blockchain solutions. Less vocal....