ISITC: Majority of Securities Firms Plan to Explore Blockchain This Year
A new survey by the International Securities Association for Institutional Trade Communication (ISITC) has revealed that the current buzz around blockchain is driving a focus on technological investment within the financial sector. ISITC is an industry trade group focused on standards and efficiencies in securities transaction processing. It boasts hundreds of member companies from across the globe, including major institutions such as BNY Mellon, Citibank, JPMorgan and more. In its annual survey, which polled 45 member firms from a variety of areas within financial services, the....
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The European branch of the International Securities Association for Institutional Trade Communication (ISITC) has proposed 10 blockchain benchmarks it believes will help standardize the increasingly diverse set of blockchain tools currently available on the market. Created by the ISITC's Blockchain DLT Working Group at a meeting earlier this month, the benchmarks are the latest step in a series of global efforts aimed at ensuring blockchain can enable a new wave of efficient, decentralized data sharing without recreating today's siloed centralized database infrastructure. But creating....
Trade processing was historically an inefficient process that involved sending documents between firms via fax and Telex, and manual re-keying of data as it passed from one proprietary trading system to another. Then, in 1991, a group of financial industry leaders and competitors created an advanced standard electronic message format with which to trade mortgage securities. That format is now known as straight-through processing (STP) and the group that created it still exists as the International Securities Association for Institutional Trade Communication (ISITC). The association....
Nigel D Solkhon, Interim CEO of ISITC Europe has released a report on the inaugural meeting of the Blockchain Working Group in London. Founded in 1992, ISITC London is a not-for-profit voluntary organization with a series of “work stream” projects planned in 2016 that includes: blockchain, regulation, standards and industry engagement. As an organization, they have been seeking to regain relevance in a rapidly changing atmosphere of FinTech, specifically in this case within the scope of blockchain technology. Solkhon, a 27-year financial services veteran, seeks to re-establish ISITC’s....
Leading members of the Hyperledger blockchain project are scheduled to address the European branch of the International Securities Association for Institutional Trade Communication (ISITC) next week. To be held at London Metropolitan University on Thursday, the public event is the latest effort by ISITC's newly formed Blockchain DLT Working Group to lay the foundation for a global effort to standardize distributed ledger technology. Co-chair of the ISITC Blockchain Distributed Ledger Technology (DLT) Working Group, Gary Wright, told CoinDesk the academic lecture is intended to give his....
A professional forum hosted by an international securities trade group in Boston earlier this week showcased how that industry is looking at potential blockchain applications – and what form those potential use cases might take in the years ahead. The International Securities Association For Institutional Trade Communication (ISITC) event, held yesterday, featured a number of panels that offered details on how the securities trade ecosystem is reacting to interest in distributed ledgers as well as the broader FinTech movement. The day of panels kicked off with a keynote address by Wall....