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BNP Paribas preps for post-trade DLT with smart contract apps

BNP Paribas preps for post-trade DLT with smart contract apps

BNP Paribas Securities Services is working with Digital Asset to design a number of real-time trade and settlement apps using smart contracts

The new apps will provide market participants in Asia Pacific with real-time access to the Australian Securities Exchange (ASX) and Hong Kong Exchange (HKEX)’s anticipated DLT -based trading and settlement platforms.

The first solution, due in 2021, is a smart elections service for corporate actions, connecting all participants to information such as dividend reinvestment or purchase offer decisions at the same time. BNP Paribas says the effort will reduce processing time, improving operational efficiency and enabling investors to finalise their decisions on the most current information on market factors.

Luc Renard, head of financial intermediaries client line & digital transformation Apac for BNP Paribas Securities Services, says: “BNP Paribas has an important role to play in ensuring market participants can fully capitalise on the smart contract technology (DAML) that underpins the latest clearing, trading and settlement innovations.

“We believe that DAML has the potential to emerge as a new standard for international capital markets. As a platform-agnostic, smart contract language, it can be used by almost any trading and settlement platform an exchange might select.”

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