The project has been lauded by industry experts, and HQLAx founder Guido Stroemer was included in Global Custodian’s 30 to Shape the Future list.
Project saw cash and securities tokens swapped for settlement using DLT, and tokenised cash used as collateral for margin requirements.
GC Legend takes up new role at Commerzbank as part of an organisational restructure.
State Street, BNY Mellon and MUFG among those backing the tokenisation project aimed at transforming clearing and settlement.
Deutsche Bank and Commerzbank both released statements over the weekend confirming that talks about being held to explore a potential merger.
Completion of the first repo transaction based on delivery versus payment using distributed ledger technology.
The use of blockchain eliminates the need for transaction reconciliation, as the trade was stored as a single immutable record.