CSDs to Collaborate in Distributed Ledger First
Two central securities depositories (CSDs) have agreed to collaborate on distributed ledger initiatives in a first-of-its-kind agreement globally. Announced today, Strate and the National Securities Depository (NSD), the CSDs of South Africa and Russia, respectively, have agreed to collaborate to develop new solutions with the technology, starting first by focusing on extending NSD's past explorations into proxy voting. As part of the agreement, Strate and NSD say they will share information related to the standardization and regulation of blockchain and distributed ledgers. In statements,....
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South Africa’s Central Securities Depositories (CSDs) Strate has signed a Letter of Intent with Russia’s National Settlement Depository NSD at the Sibos event in Geneva in September 2016 to forge a partnership that will develop solutions utilizing blockchain – or the Distributed Ledger Technology (DLT). The first use case is focused on proxy voting which is a vital process for decision-making bodies to delegate their voting power to other members of the same body to vote in their absence, and/or to select additional representatives. Such processes are crucial to financial markets....
At the recent Sibos event in Geneva, several organizations showed off blockchain prototypes and had plenty of discussion regarding the technology. During the event, Russia’s National Settlement Depository (NSD) and South Africa’s Central Securities Depositories (CSDs) signed a letter of intent to begin initiatives using distributed ledger protocols. A....
A new report by Euroclear has looked at the regulatory and legal aspects of the use of blockchain technology in post-trade settlement in a European context. The report, Blockchain Settlement: Regulation, Innovation, and Application [PDF], with support from Slaughter and May, found that central securities depositories (CSDs) would play an important role in a blockchain-based settlement system. It also stated that regulators should not fear the use of smart contracts and distributed ledger technology any more than any other automated computer-based process prevalent throughout the settlement....
A group of central securities depositories (CSDs) is working with stock exchange operator Deutsche Börse on a new blockchain-based solution aimed to improve collateral management. CSDs from Canada, Luxembourg, Norway and South Africa – all members of the Liquidity Alliance – are working with the stock exchange firm to create what they have dubbed the “LA Ledger”. The initiative is currently in the prototyping phase, using the code underlying the Hyperledger project as its basis. The firms involved are looking to seek approval for the solution from regulators later this year, according to....
A group of central securities depositories (CSDs) is working with stock exchange operator Deutsche Börse on a new blockchain-based solution aimed to improve collateral management. CSDs from Canada, Luxembourg, Norway and South Africa – all members of the Liquidity Alliance – are working with the stock exchange firm to create what they have dubbed the “LA Ledger”. The initiative is currently in the prototyping phase, using the code underlying the Hyperledger project as its basis. The firms involved are looking to seek approval for the solution from regulators later this year, according to....