ICAP Successfully Tested Spot/Forward FX Trades on Blockchain
Posted: Mon Mar 14, 2016 11:46 am
ICAP (LSE:IAP) just revealed that its Post Trade Risk and Information (“PTRI”) division has completed a proof of technology test for a distributed ledger using blockchain technology. The trail completed on 26 February 2016 and ICAP says it has the potential to significantly transform post trade operations, while complying with new market practices within the post-crisis regulatory environment.
PTRI leveraged the multi asset messaging and matching Harmony network, and blockchain infrastructure provided by Axoni, a New York-based technology firm, to create a private, peer-to-peer, distributed ledger network using smart contracts. Axoni’s implementation of blockchain technology provides complex life cycle automation, transactional privacy, ... (read more)