CloudMargin & Ivno Bring DLT to Collateral & Margining CloudMargin, maker of a cloud-native collateral and margining solution, is working with Ivno, a financial markets tokenization vendor, to develop a collateral management solution that uses distributed ledger technology (DLT) and cloud computing, officials say. Their new strategic partnership will leverage Ivno’s DLT strengths and CloudMargin’s… Read More >>
Broadridge’s DLR Handles $31B in Repos Daily
Post-trade systems and services provider Broadridge Financial Solutions officially launched on June 7 its distributed ledger repo (DLR) platform for bilateral repo trades that executed $31 billion in average daily volume during its first week. The blockchain-based transaction platform helps market participants “agree, execute and settle repo transactions,” officials say. Broadridge is hoping that the… Read More >>
Top Banks Test Drive Intraday FX Swaps Platform
Tests Involve DLT & Non-DLT Technology NatWest Group, Deutsche Bank, Bank of Ireland, and Banca Mediolanum have been working with treasury teams at other large banks to test a platform for intraday foreign exchange (FX) swaps trading that involves distributed ledger technology (DLT) and non-DLT systems, officials at Finteum say. “The banks’ initiative to create… Read More >>
Wall Street Resists Full Embrace of DLT: Report
Blockchains based upon distributed ledger technology (DLT) have the capacity to undo the “complexity, opacity and fragmentation of capital markets,” but they lack a clear path to wider acceptance, are competing against other disruptive technologies for funding, and represent a threat to traditional industry institutions, according to a new report from World Economic Forum (WEF)…. Read More >>
Will Blockchain Deliver on Its Promises in 2021?
I think our lead fintech news brief about Instinet and Credit Suisse completing multiple equities transactions in T+0 via blockchain/distributed ledger technology [https://bit.ly/2OwJJWJ] may have more significance than at first glance. These two major players used the Paxos Settlement Service from Paxos Trust Company, a self-described infrastructure provide, to settle U.S.-listed equities trades on a… Read More >>
BNY Mellon Readies Platform for Digital Asset Custody
Digital Assets Platform Due Later This Year New school crypto-currency and other digital assets have gotten the blessings of the establishment with the news that BNY Mellon is creating a digital assets unit slated to create a secure infrastructure to facilitate the transfer, safekeeping, and issuance of digital assets. The new Digital Assets unit “will… Read More >>
Digital Transformations Are More Important Than Ever: Q&A
(Industry veteran Duncan Johnston-Watt tells FTF News that the COVID-19 pandemic is actually making a convincing case for financial services firms to embrace a digital transformation. In fact, he says the ripple effects of the pandemic are jolting the acceptance rate at firms. Johnston-Watt is co-founder and CEO of Blockchain Technology Partners (BTP), an enterprise… Read More >>
Are You Ready for Digitalized Repo Ops?
(Last month, JPMorgan revealed that it had successfully conducted “a live, blockchain-based intraday repo transaction” between its broker-dealer and banking entity via an internally developed blockchain/distributed ledger technology (DLT) application. The effort was a test of instantaneous settlement and maturity of the transaction in hours rather than days. The news spurred FTF News to reach… Read More >>
BNY Mellon Staff to Stay Remote for 2020
BNY Mellon Mum About 2021 Custody bank BNY Mellon is telling its approximately 48,000 staff members across the globe to continue to work remotely for the rest of 2020. “Our top priority remains the health and safety of our employees and our clients,” a BNY Mellon spokesperson tells FTF News. “A majority of our global… Read More >>
Blockchain Successor to CHESS to Launch in 2022
Pandemic Delays Launch of New ASX System The Australian Stock Exchange (ASX) has set its new go-live date of April 2022 for the blockchain-based system that will replace its incumbent clearing and settlement, the Clearing House Electronic Subregister System (CHESS), officials say. The new launch date is 12 months beyond the original launch date, which… Read More >>
