Some of Wall Street’s biggest names, including Goldman Sachs and JP Morgan, have completed a pilot that used blockchain smart contracts to manage equity swap transactions and post-trade lifecycle events.
The months-long pilot, which came after an initial proof-of-concept, was managed by DLT startup Axoni, using its AxCore platform, and included swaps market participants including BNP Paribas, Citi, Credit Suisse, Canada Pension Investment Board, IHS Markit and Thomson Reuters.
The project saw participants process equity swap lifecycle events, end-to-end, testing automated lifecycle management and synchronisation of single stock and portfolio total return swaps, as well as critical components regarding the deployment and management of the distributed ledger network.
Source/More: Wall Street heavyweights pilot DLT for equity swaps processing
