Post-trade CDS solution adds to blockchain efforts

摘要

Markit Group, the Depository Trust & Clearing Corporation and Axoni have successfully tested the use of blockchain technology in managing post-trade lifecycle events for single-name credit default swaps. Four major banks including JP Morgan and Citigroup participated in the test. "Blockchain and distributed ledger technology has the potential to revolutionise highly manual, complex processes across global financial markets," said Chris Childs, CEO of DTCC's Deriv/SERV automated repository and asset servicing business. "This test reinforces that collaboration among service providers will be critical to ensuring the technology is harnessed, assessed and implemented consistently."