The DA platform processed more than four times the amount of trades per second than the latest DLT prototype developed by DTCC.
DTCC built a blockchain-based clearing and settlement platform that could process over 100 million US equities trades per day
Private equity managers are increasingly turning to administrators and their ability to introduce new technologies to deal with mounting operational requirements.
BNP Paribas is half-way through a five-year programme focusing on implementing digital initiatives across the group.
While providers are conscious existing systems are in need of reform, there is trepidation about developing technology which could be disrupted before it even goes live.
The decision comes after industry feedback raised concerns on the ASX’s timeline to implement the technology.
The investment expands the partnership with HQLAx established in March this year, with the aim of building a blockchain-based solution for securities lending transactions.
MAS and SGX have been among the leaders in promoting the use of blockchain technology in financial markets.
First Canadian dollar fixed income issuance by a major bank in Canada testing blockchain technology.