DTCC to Use Blockchain to Reduce Derivatives Processing Costs

[kreslik.news]

Financial markets infrastructure firm, The Depository Trust & Clearing Corporation (DTCC), announced today that it has selected IBM, Axoni and R3 to create a blockchain framework to improve the derivatives post-trade lifecycle. This marks an important real world application for the technology as the DTCC’s current Trade Information Warehouse (TIW) automates more than $11 trillion of cleared and bilateral credit derivatives.

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The solution is meant to streamline and reduce the cost of derivatives processing. It is developed with input from Barclays, Citi, Credit Suisse, Deutsche ... (read more)