Japan's SBI Securities is working with IBM to test the use of blockchain technology for a new type of bond trading platform.
Gmex Group, the London-based derivatives venue set up by Chi-X Europe co-founder and one-time COO Hirander Misra, has restructured, spinning off its technology business and re-focusing its exchange-trading division.
A group of five major banks, working with Thomson Reuters, IHS Markit and Axoni, have carried out a successful test of blockchain technology and smart contracts to manage affirmations and post-trade lifecycle processing for OTC equity swaps.
Icap has acquired UK regulatory reporting outfit Abide Financial for an undisclosed sum.
Distributed ledger technology may be the "most significant development in many years" for payments, clearing and settlement, according to a Federal Reserve governor who says that the central bank will publish its own blockchain paper later this year.
While three quarters of banks are actively experimenting with blockchain technology, regulatory uncertainty and a lack of inhouse expertise are proving major roadblocks to near-term adoption, according to research from SIX Securities Services.
The Luxembourg fund industry is exploring how the uptake of distributed ledger technology can be applied to radically transform the asset management business, adopting a consortium-based approach involving nine leading banks, professional services firm PwC and local startup Scorechain.
The Sydney Stock Exchange is looking to beat its larger compatriot, the Australian Stock Exchange, to the punch in the development of a blockchain-based settlement system for equity securities.
OpenGamma has raised $13 million in a funding round led by Accel and Icap. The open source risk management outfit has also promoted COO Peter Rippon to CEO.
IBM is to acquire risk management and regulatory compliance consulting firm Promontory Capital and create a new subsidiary, Watson Financial Services, in which it will use artificial intelligence technology to keep pace with the rapidly changing financial reporting landscape.
Distributed ledger technology is set to move out of the test environment and into the wild next year, with nearly two thirds of banks expecting to be in production with full-scale, commercial blockchain projects by 2019, according to research from IBM.
© Finextra Research 2016