The prototype was created after discussions with the UK’s Financial Conduct Authority (FCA), the Royal Bank of Scotland (RBS) and one other global bank.
The software was built on R3’s Corda platform and aims to tackle every issue in the mortgage transaction lifecycle.
Charley Cooper, managing director of R3, tells WatersTechnology that this was the result of talks between the counterparties that started several months ago. Transaction reporting has been identified as a universal problem for
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails