SWIFT: Blockchain Won't Remove All Third Parties in Securities Trade
It may come as little surprise to find that blockchain technology could require a major re-imagining of the securities market. But a report published today by the research arm of financial messaging service SWIFT argued that the technology does not entirely remove the need for third parties, even if it demands a "substantial re-engineering of business processes across multiple securities market firms." The major finding of the report, based on interviews and focus group meetings with individuals from 75 organizations in technology and post-trade processing, is that industry firms....
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The Sydney Stock Exchange (SSX) has announced that its blockchain-focused joint venture, APX Settlement (APXS), has prototyped a blockchain for equity securities. First revealed in May, the blockchain system is part of a bid by the small exchange to become less dependent on the Australian Securities Exchange (ASX) for post-trade services through a partnership with local startup Bit Trade Labs. In statements, the companies called the news the "first step" toward an "instantaneous settlement-and-transfer-upon-trade" platform and this larger vision. Going forward, SSX said....