A consortium of Japan’s leading financial institutions, spearheaded by Mitsubishi UFJ Financial Group (MUFG), is testing distributed ledger technology to modernize Japanese government bond (JGB) repo markets. Operating within the Japanese Financial Services Agency’s (FSA) FinTech PoC Hub under its Payment Innovation Project, the initiative aims to compress the conventional one-to-three-day (T+1 to T+3) repo… Read More >>
Prometheum Capital Expands Into Correspondent Clearing
Market infrastructure provider for blockchain-based securities Prometheum has received approval for its SEC-registered special purpose broker-dealer subsidiary to offer correspondent clearing services to third-party broker-dealers. Correspondent clearing allows one broker-dealer to execute trades through another and settle those trades via a third, separate clearing broker-dealer. As a qualified custodian for institutional and retail investors, Prometheum… Read More >>
