Payments Canada, the Bank of Canada and TMX Group have come together to experiment with an integrated securities and payment settlement platform based on distributed ledger technology.
Fundchain, a collaborative initiative of the Luxembourg fund industry, is to advance its exploration into potential applications for distributed ledger technology and define ready-to-use products that could be implemented in the short-term.
Research undertaken by McKinsey estimates that broader, global adoption of Legal Entity Identifiers (LEIs) could yield annual savings of over $150m within the investment banking industry and up to $500m for banks in the issuance of letters of credit.
Sunny optimism faced off with hard-nosed pragmatism during an early Sibos session on blockchain in the cash and securities settlement space, as ConsenSys rep Monica Singer tried desperately to win over cynical bankers.
BNP Paribas has joined forces with Tata Consultancy Services in a bid to transform the tortuous corporate events lifecyle through the use of blockchain technology.
Early results from a blockchain proof-of-concept conducted by Swift with six of the co-operative's member banks indicate that DLT application can deliver the business functionalities and data richness required to support real-time liquidity monitoring and reconciliation.
Deutsche Bank aims to create a common industry standard for trading technology by making its own computer code publicly available for the first time.
BNP Paribas Securities Services is implementing Smart Chaser, a trade matching tool that uses artificial intelligence to warn brokers and their clients of live trades that may require manual intervention to complete.
A consortium of banks and technology vendors led by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) have successfully developed software prototypes of three different models for decentralised inter-bank payment and settlements with liquidity savings mechanisms.
Top executives at the Australian Securities Exchange say they are "increasingly confident" about the prospect of replacing their legacy post-trade infrastructure with a platform based on distributed ledger technology.
© Finextra Research 2017