The International Swaps and Derivatives Association (ISDA) has been working with distributed ledger technology (DLT) pioneer Digital Asset to build an open-source reference code library that will help the derivatives industry embrace the ISDA Common Domain Model (CDM), a blueprint for the representation of derivatives trade events and processes. Digital Asset has built “an open-source… Read More >>
Digital Asset Open Sources Its Smart Contract Language
Distributed ledger pioneer Digital Asset is open sourcing its smart contract language, the Digital Asset Modeling Language (DAML), to facilitate the rapid adoption of distributed ledger technology (DLT) applications regardless of the platform. The source code for the DAML language, runtime, and Software Development Kit (SDK) will be freely available under an Apache 2.0 open… Read More >>
SEB to Use DTCC Repository for SFTR Compliance
SEB Extends DTCC Agreement via Global Trade Repository Swedish financial group Skandinaviska Enskilda Banken (SEB) has decided to use the Global Trade Repository (GTR) services of the DTCC to meet regulatory obligations under the Securities Financing Transactions Regulation (SFTR) that are likely to take effect in April 2020. The decision is an extension of SEB’s… Read More >>
DTCC Proposes Post-Trade Framework for Token Platforms
Post-trade systems and services provider DTCC is acknowledging that an emerging disruptive trend — tokenized securities — may soon need a legal and regulatory framework formulated via regulators, trading venues, and the post-trade operations staffs of industry participants. The DTCC is also acknowledging that because of its unique position in the securities operations industry, it… Read More >>
Commerzbank & Deutsche Börse’s Successful DLT Experiment
It’s a challenge to predict how technologies will fare in the universe of securities operations. For instance, the hype around blockchain/distributed ledger technology (DLT) has been far outpacing the reality of DLT-based systems and applications in production at securities trading firms, causing some to wonder if there will ever be actual results. However, Commerzbank and… Read More >>
ISITC to Scrutinize Disruptive IT at Spring Summit
David Scola, head of North America for the SWIFT financial messaging and services cooperative, will dive into the impacts of disruptive technologies such as open application programming interfaces (APIs), distributed ledger technology (DLT), artificial intelligence and machine learning at ISITC’s 25th Annual Securities Operations Summit later this month in Boston. Scola is serving as moderator… Read More >>
Cyber Startup Spared Penalty in Unregistered ICO Case
Gladius Network, a cybersecurity vendor whose services are based on blockchain technology, conducted an unregistered initial coin offering (ICO) but later reported its actions to the SEC, agreed to compensate ICO investors, and is registering the ICO tokens as a class of securities — underscoring the SEC’s assertion that digital tokens must conform to securities… Read More >>
CEO of Blockchain Vendor Digital Asset Steps Down
Digital Asset Board Chairman to Be Acting CEO Digital Asset, a provider of distributed ledger technology (DLT), reports that Blythe Masters, the company’s CEO since 2015, will step down, for unspecified personal reasons. AG Gangadhar, who joined the company’s board of directors in April of this year, has been named board chairman and will serve… Read More >>
CFTC Explains Smart Contracts
Through its LabCFTC extension for FinTech innovation, the CFTC has issued a primer “intended to be an educational tool” to explain what a “smart contract” actually is (in case you’re not certain), and to point out some of its shortcomings. “Fundamentally, a ‘smart contract’ is a set of coded computer functions,” according to the primer…. Read More >>
Major Ops Industry Players Put Blockchain to the Test
The raging romance between financial services firms and blockchain technologies is heading toward a new phase where projects, tests and proof-of-concept efforts are beginning to yield results that will help industry players revamp or even replace key securities operations. Over the last few weeks, the signs have been encouraging: Deutsche Börse Group and HQLAX have… Read More >>
