Nimbrix Launches Blockchain Consortium Aimed at the Buy Side

Consortium including Microsoft, Thomson Reuters and KPMG aims to launch buy-side blockchain platform.

Blockchain has so far had greater traction among sell-side institutions.

London-based technology vendor Nimbrix has launched a new blockchain consortium aimed at increasing buy-side participation in the development of distributed-ledger technology.

The consortium, comprised of Nimbrix, Thomson Reuters, Microsoft and consultancy KPMG, and led by a number of industry veterans from institutions such as BlackRock, UBS and BGI, aims to launch a platform leveraging cloud, open-API, software-as-a-service (SaaS) and blockchain technologies running on Microsoft Azure.

The sell side has, so far, made greater investments into distributed-ledger technologies projects, an imbalance which Nimbrix is seeking to redress.

"It's a revolutionary approach to software for the financial services sector," said Simon Bullers, Nimbrix CEO, in a statement. "Traditional solutions for this industry take years to deploy and transition to, but you can bring up a Nimbrix platform in minutes, and then transition to it in months, and because it's SaaS, running on Microsoft Azure, firms can avoid huge, upfront capital costs.

Click here for Sizing Up Blockchain, a Waters special report on distributed-ledger technologies.

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