TECHNOLOGY

smartTrade Technologies reveals post-trade blockchain service

smartTrade Technologies acknowledges client feedback to explore blockchain technology for post-trade.

By Hayley McDowell hayley,mcdowell@thetradenews.com February 02, 2018 11:52 AM GMT

Multi-asset electronic trading services provider smartTrade Technologies has developed a new blockchain-based solution for post-trade functions.

The tool captures and sends post-trade data to a private distributed ledger which ensures records cannot be altered.

The firm explained the new service means its clients gain additional proof of transparency that allows them to be prepared for any future regulatory requirements.

“We started exploring blockchain technology as a result of client feedback and because we believe that blockchain is a major technology milestone which can be leveraged to solve many transparency issues the financial world is facing today,” said David Vincent, CEO of smartTrade Technologies.

Clients of the company will be able to subscribe to the new post-trade service through an open application programming interface.

“Innovation is what drives smartTrade and while our post-trade distributed ledger is our first blockchain-based application, we are already exploring how to expand our use of this technology,” Vincent concluded.