The main clearinghouse for the US stock market has switched on a settlement system built on blockchain, calling it a “milestone achievement” for adopting digital technologies in markets.
Depository Trust & Clearing Corp. said on Monday that its “Project Ion” platform is now processing around 100,000 bilateral equity transactions a day in parallel with its existing settlement systems, which remain the authoritative record. At peak level, the platform can reach about 10% of the bilateral equity volumes handled by the firm’s classic settlement systems.
There is no specific timeline for when and if the Project Ion platform, roughly two years ...
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