Post-Trade Distributed Ledger Group Grows Membership to 37 Financial Firms
The Post-Trade Distributed Ledger (PTDL) Group, an initiative launched last year by banks, clearing houses and exchanges, has taken steps to formalize its operations and make clear its memberships and organization. Announced today, the PTDL Group now has 37 financial institutions as members, with its organization committee being composed of CME Group, Euroclear, HSBC, the London Stock Exchange and UniCredit. Although the full list of members was not revealed, LCH.Clearnet, Société Générale and UBS are among others that have been said to be participating. Also revealed is that Ernst &....
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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....
The goal of the R3 Consortium to form a global partnership to design and apply blockchain’s distributed and shared ledger-inspired technologies to financial markets got a boost as it adds its first African institution to its membership. South Africa’s Absa Bank Ltd, a member of the Barclays Africa Group Limited, is the first African banking group to join the global R3 blockchain consortium which has already partnered with some of the world's leading banks to design and deliver advanced distributed ledger technologies to global financial markets. Absa will collaborate with other SA banks.....
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....
A new blockchain consortium has been formed in South Korea, with both established finance firms and technology startups on its membership roster. According to one of the group's members – blockchain startup The Loop – the new initiative will focus some of its efforts on building tools for managing trade finance processes. The firm said in a statement: “Beyond providing [the] blockchain-based authentication and information sharing system, we collaborate with other technology providers on developing a prototype for financial services in areas of securities trade and post trade, the prototype....
Credit Suisse, Citi and HSBC are among seven financial firms to participate in a data management trial announced today and conducted with support from blockchain firms Axoni and R3CEV. Featuring buy-side and sell-side firms, the multi-month effort envisioned how a distributed ledger prototype could be built to enhance risk management, cost and efficiency issues when managing financial reference data. Also involved was the Securities Industry and Financial Markets Association (SIFMA), a trade group representing US securities firms. According to a release, the prototype used Axoni Core, the....