DTCC completes blockchain repo test
http://timesofindia.indiatimes.com/business/international-business/dtcc-completes-blockchain-repo-test/articleshow/57379062.cms
Post-trade provider Depository Trust & Clearing Corporation, or DTCC, has successfully completed testing of blockchain-based technology for the clearing and settlement of repurchase, or repo, agreement transactions, and will decide by June whether to deploy the new system.
DTCC, a utility that runs the plumbing for a vast share of Wall Street's trading, said on Monday the new technology developed with New York-based start-up Digital Asset Holdings demonstrated that blockchain could be used to better manage the netting process for U.S. Treasury and Agency repo transactions.
DTCC has now entered the second phase of the project during which it will form a stakeholder group with some of the participants in the $3 trillion-a-day repo market, to collect their feedback on the blockchain system. Over the next few months, DTCC will also determine whether the technology meets its integration requirements, and will decide whether to move ahead with deployment, it said.
Topic: [2017-02-27] ToI: DTCC completes blockchain repo test (Read 350 times)
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