Post-trade & ops

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ASX delays Chess cutover to beyond April 2023

/markets

ASX delays Chess cutover to beyond April 2023

The Australian Securities Exchange (ASX) has confirmed a further delay to the cutover of its blockchain-based post-trade network, which was initially set for go-live in April 2021.

Big banks invest in institutional-grade crypto trading platform Talos

/crypto

Big banks invest in institutional-grade crypto trading platform Talos

Institutional digital asset trading technology firm Talos has secured a $1.25 billion valuation after closing a $105 million Series B funding round joined by Citi and Wells Fargo.

Commerzbank applies for crypto custody licence

/crypto

Commerzbank applies for crypto custody licence

Germany's Commerzbank is seeking to enter the crypto-assets market after a spokesperson revealed the bank has applied for a local crypto licence.

DTCC's Project Lithium to assess implications of CBDC on market infrastructure

/crypto

DTCC's Project Lithium to assess implications of CBDC on market infrastructure

The Depository Trust and Clearing Corporation (DTCC) is developing a prototype to test the ability of US clearing and settlement infrastructure to support a Fed-issued central bank digital currency using a DLT platform.

ASX set to further delay roll out to Chess replacement system

/markets

ASX set to further delay roll out to Chess replacement system

The Australian Securities Exchange (ASX) is set to enforce a further delay to the cutover of its blockchain-based post-trade network, which was initially set for go-live in April 2021.

JPMorgan, BNP Paribas invest in Saphyre

/markets

JPMorgan, BNP Paribas invest in Saphyre

JPMorgan, BNP Paribas and HCAP Partners have invested $18.7 million in multi-counterparty data firm Saphyre.

Euroclear invests in Fnality

/markets

Euroclear invests in Fnality

Euroclear has invested in Fnality, the international consortium of global banks focused on building a blockchain-based payment system to support the adoption of tokenised assets and marketplaces.

State Street to enter digital custody business with Copper.co

/crypto

State Street to enter digital custody business with Copper.co

State Street, one of the world's largest custodians, is to enter the digital asset safekeeping business using technology from London startup Copper.co.

SEC votes in favour of T+1

/regulation

SEC votes in favour of T+1

The Securities and Exchange Commission has voted to propose rule changes to reduce risks in the clearance and settlement of securities, by reducing the settlement cycle to one business day.

HSBC and Wells Fargo achieve PvP settlement finality with DLT

/payments

HSBC and Wells Fargo achieve PvP settlement finality with DLT

HSBC and Wells Fargo have completed the first interbank Payment vs Payment (PvP) settlement outside of CLS using distributed ledger technology from Baton Systems.

US securities markets plot move to T+1

/markets

US securities markets plot move to T+1

US securities markets are targeting a move to next-day settlement in the first half of 2024.

Distributed ledger technology is the key to growth for Deutsche Börse

/markets

Distributed ledger technology is the key to growth for Deutsche Börse

Analysts at Metzler Capital Markets believe it is likely that distributed ledger technology will become the dominant technology in the business of Clearstream, Deutsche Börse's securities custodian and settlement provider, in the future.

DTCC to apply cloud, API and blockchain to modernise private markets

/markets

DTCC to apply cloud, API and blockchain to modernise private markets

The Depository Trusts and Clearing Corporation has entered the production build phase for a new platform to streamline the issuance, transfer and servicing of private market securities

Embed raises $60 million ahead of Q4 custody and clearing launch

/markets

Embed raises $60 million ahead of Q4 custody and clearing launch

Embed Financial Technologies, a clearing and custody startup set up by a former Square executive, has raised $60 million in Series A funding as it prepares to launch in US financial markets.

ICE sells Euroclear stake for €709m

/markets

ICE sells Euroclear stake for €709m

Intercontinental Exchange (ICE) has sold its 9.85% stake in clearing and settlement platform Euroclear to Silver Lake for €709 million.

HSBC opens post-trade marketplace

/markets

HSBC opens post-trade marketplace

HSBC has launched a new open architecture platform to connect clients to a host of third party post-trade service providers.

Deutsche Börse bids to reinvent post-trade with DLT-based D7 project

/markets

Deutsche Börse bids to reinvent post-trade with DLT-based D7 project

Deutsche Börse is preparing for the phased launch of a new cloud-backed and DLT-ready platform, D7, paving the way for same-day-issuance and paperless, automated straight-through processing for the entire value chain of issuance, custody, settlement, payment and asset servicing for digital securities.

Deutsche Börse takes minority stake in WeMatch

/markets

Deutsche Börse takes minority stake in WeMatch

Deutsche Börse has aquired a minority stake in WeMatch, a fintech company focussing on trading workflows for the wholesale derivatives industry, as part of a $19.5 million Series B equity funding round.

Big banks join post-trade DLT joint venture Marketnode

/markets

Big banks join post-trade DLT joint venture Marketnode

A host of big banks have joined Marketnode, a digital asset joint venture from Singapore Exchange and Temasek focused on capital markets workflows through smart contracts, ledger and tokenisation technologies.

DTCC to begin development of DLT-based settlement system

/markets

DTCC to begin development of DLT-based settlement system

The Depository Turst and Clearing Corporation is to move into the development phase of a protytpe settlement platform based on distributed ledger technology that could act as the precursor to a US move to a same day settlement cycle

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