P2P network provider Cobalt DL announced that it will deploy blockchain technology vendor SETL’s OpenCSD service within its foreign exchange (FX) post-trade platform.
SETL is offering its OpenSCD platform in an effort to create a single shared view of FX transactions within Cobalt's FX post-trade system.
Both vendors said this combined service will obviate disagreements and reconciliation problems between participants and is expected to result in significantly reduced costs. The OpenCSD will be a depository of trade information, captured in the Cobalt post-trade reconciliation system.
SETL OpenCSD is able to process high-burst volumes and has the capacity to process many billions of transactions per day.
According to a statement, the record will provide cryptographic proof of a contract and of the parties' agreement to the terms of the trade. Participants will be able to retrieve details of their own trading activity from the ledger in a manner that absolutely verifies their inclusion in the shared record, but does not allow them to examine other participants' activities.
Jesse Lund talks about real uses for DLT in the capital markets, lessons learned while rolling out IBM's blockchain platform, and what’s ahead for 2018, and into 2019.Subscribe to Weekly Wrap emails