The findings highlight the sharp divide between processing fund transfers manually that require ‘wet’ signatures and using an automated system.
The group will collaborate on setting standards for building distributed applications, including frameworks on token definitions and contracts
Through the asset manager’s ‘Morgan Money’ trading platform, it has become the first in the market to offer automated settlement with Calastone's technology.
Northern Trust has hired Calastone's former head of product development lead the implementation of Matrix across fund services.
Calastone has been engaging with a community of early adopters who have had access to the technology, including custodians and fund managers.
New platform will digitalise trading, settlement and distribution of funds through distributed ledger technology.