DTCC to Soon Include Blockchain Tech for Wall Street Companies
The Wall Street companies may soon start using blockchain technology based services provided by DTCC. Blockchain technology in banking and fintech is not a new thing. The sector has been working on implementing the distributed ledger technology into its operations for more than a year now. As they make progress, the Wall Street clearinghouse has decided to hop on the bandwagon by adopting blockchain technology. According to reports, Depository Trust and Clearing Corporation – DTCC has announced its intentions to start using Blockchain technology on a trial basis. DTCC is a leading firm....
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The chief executive of the Wall Street clearing house, set to transfer to Blockchain technology, has spoken of how the future of Wall Street could be very different. Quoted by the local press, Michael C. Bodson stated that the collaborative project with IBM to replace a back end database with “Blockchain-inspired” software would be running by 2018. Proving Blockchain’s power. The project is being created for use by the Depository Trust & Clearing Corporation (DTCC), which handles the reporting of practically all stock and trade moves in the US. It also records the trading of valuable....
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Depository Trust & Clearing Corp. (DTCC), a firm at the center of Wall Street’s trading infrastructure, is about to launch an important test of distributed ledger technology: seeing whether it can provide workable solutions for the $2.6 trillion repo market, The Wall Street Journal reports. DTCC will collaborate with Digital Asset Holdings for planning and running the test. Earlier this year, DTCC participated in a $52 million funding round for Digital Asset Holdings, with other investors including JP Morgan, Citi, Accenture, CME Group and ASX, the company behind Australia’s stock....
Wall Street’s clearing and settlement house, the Depository Trust & Clearing Corporation (DTCC) has, in recent times, increasingly made rapid strides in blockchain research and investment into the innovation. Blockchain technology is fast being touted as the oncoming evolutionary leap to boost the financial industry. Stock exchanges like the Australian Securities Exchange (ASX) have gone beyond merely researching the technology, by running trials and a prolonged testing period which sees Australia’s biggest stock exchange use blockchain-based solutions for post-trade events. Wall....