Dream*On schreef op 11 januari 2017 10:33:
US clearing house moves to blockchain
www.itnews.com.au/news/us-clearing-ho...US post-trade provider, the Depository Trust & Clearing Corporation (DTCC), will use blockchain technology to rebuild a platform that processes US$11 trillion (A$15 trillion) worth of credit default swaps year, the company said.
IBM and technology startups Axoni and R3 CEV have been selected to work on the project which is set to kick-off this month, the DTCC said.
It is being developed with input from market participants and infrastructure providers
including Barclays, Citigroup, Credit Suisse, Deutsche Bank, JPMorgan Chase, UBS Group, Wells Fargo, IHS Markit and Intercontinental Exchange, DTCC said.
Blockchain will reduce the costs and complexity of managing credit default swaps, which are essentially contracts that insure bond-holders against losses if the bond goes bad.