Through its LabCFTC extension for FinTech innovation, the CFTC has issued a primer “intended to be an educational tool” to explain what a “smart contract” actually is (in case you’re not certain), and to point out some of its shortcomings. “Fundamentally, a ‘smart contract’ is a set of coded computer functions,” according to the primer…. Read More >>
IBM & CLS Collaborate on DLT Network PoC
IBM and CLS to Work on DLT Proof-of-Concept Effort Computing giant IBM is collaborating with CLS, a market infrastructure group delivering settlement, processing, and data solutions, on a proof of concept (PoC) effort for LedgerConnect, described as a distributed ledger technology (DLT) platform for the financial services industry. The LedgerConnect offering to come is intended… Read More >>
SIX to Create a Fully Integrated Digital Exchange
The stock exchange for Switzerland, which SIX Swiss Exchange Ltd. owns and manages, is building what it says will be an integrated trading, settlement and custody infrastructure for crypto currencies that will help client banks pursue their digital asset initiatives. Earlier this month, SIX officials said that the planned “digital asset ecosystem,” the SIX Digital… Read More >>
Blockchain Budgets and Staffs Are Growing: Report
Financial services firms are bolstering their staffs and increasing their budgets to get on the blockchain bus, but the development process has been harder than expected, according to a new report from market research firm Greenwich Associates. “The financial services industry is spending about $1.7 billion per year on blockchain, as banks and other firms… Read More >>
Northern Trust Secures U.S. Patents for DLT Solutions
Officials at custodian bank Northern Trust report that the firm has been awarded two U.S. patents for inventions based upon distributed ledger technology (DLT) that are intended to provide “the efficient, secure and transparent management of lifecycle events within private equity fund administration,” officials say. The patents are a key aspect of the firm’s push… Read More >>
Global Framework Would Fix Fragmented OTC Repositories: DTCC
A new report from the DTCC calls for a new global reporting framework to complete the Great Recession mandate of the Group of 20 (G20) to establish repositories of over-the-counter (OTC) derivatives trades, intended to help regulators sift out potential risks. The DTCC is also pointing to the possibilities of distributed ledger technology (DLT) and… Read More >>
Digital Asset Launches Developer Program for Smart Contracts
Digital Asset, a pioneer of distributed ledger technology (DLT) for financial services, is launching a developer program for writing smart contracts via the Digital Asset Modeling Language, an attempt to bring DAML to “a wider audience” that will pave the way for more applications to run via the vendor’s flagship platform. “DAML is the enterprise… Read More >>
SWIFT & Seven CSDs to Push for Post-Trade Blockchains
More CSDs Expected to Work with SWIFT Financial messaging and systems cooperative SWIFT has just signed a memorandum of understanding (MOU) with seven central securities depositories (CSDs) that commits them to demonstrating how distributed ledger technology (DLT) could be put to work for post-trade operations, including corporate actions processing, shareholder and related voting, and proxy-voting…. Read More >>
How Real is the Bitcoin Phenomenon?
As I’m writing this piece, The Wall Street Journal is reporting that the price of bitcoin currency is hitting a new high: “The price of bitcoin crossed $13,000 on Wednesday afternoon, the latest milestone in the cryptocurrency’s massive rise.” We are having a moment with Bitcoin, which strangely follows the securities industry’s fascination with the… Read More >>
Blockchain’s Myths Starting to Fade: Report
Despite the hype, there is currently very little hard data to evaluate the benefits of blockchain-supported systems over existing infrastructures, according to a new report, “Blockchain in Capital Markets: More Evolution than Revolution,” by market research consultancy Opimas, based near Paris. The initial results of the blockchain/distributed ledger technology (DLT) are indicating that the emerging… Read More >>
