DTCC embarks on digital exploration in the public and private markets
18 May 2020 New York
Image: 271EAKMOTO/Shutterstock
The Depository Trust & Clearing Corporation (DTCC) is set to explore the benefits of digitalisation in the public and private markets and whether new technologies can strengthen post-trade processes and reduce risks and costs.
DTCC’s proposals are contained in two case studies, Project Ion and Project Whitney, which mark the latest efforts by DTCC to examine the potential use of distributed ledger technology, asset digitalisation as well as other emerging technologies.
Project Ion seeks to build on DTCC’s efforts over the past several years to further optimise the settlement process in the public markets.
Meanwhile, Project Whitney considers opportunities to provide increased levels of digitalisation throughout the private market asset lifecycle.
Mike Bodson, president and CEO at DTCC, said: “DTCC has been a leader in the digital transformation of financial markets since our founding, and we’re building on that legacy of innovation with projects to strengthen post-trade processes.”
Bodson added: “These case studies reimagine the private markets lifecycle and the public markets settlement processes, and they could significantly modernise and enhance how trading activity is processed in the future. We look forward to working collaboratively with our clients, regulators and other key stakeholders as we advance these concepts in partnership with the industry.”
Jennifer Peve, managing director, business innovation at DTCC, said: “Projects Ion and Whitney represent the next steps in our digitalisation journey. Both serve as examples of practical experiments incorporating innovative technology and business concepts designed to strengthen post-trade processes and provide a resilient, secure and efficient post-trade infrastructure for the industry.”
DTCC’s proposals are contained in two case studies, Project Ion and Project Whitney, which mark the latest efforts by DTCC to examine the potential use of distributed ledger technology, asset digitalisation as well as other emerging technologies.
Project Ion seeks to build on DTCC’s efforts over the past several years to further optimise the settlement process in the public markets.
Meanwhile, Project Whitney considers opportunities to provide increased levels of digitalisation throughout the private market asset lifecycle.
Mike Bodson, president and CEO at DTCC, said: “DTCC has been a leader in the digital transformation of financial markets since our founding, and we’re building on that legacy of innovation with projects to strengthen post-trade processes.”
Bodson added: “These case studies reimagine the private markets lifecycle and the public markets settlement processes, and they could significantly modernise and enhance how trading activity is processed in the future. We look forward to working collaboratively with our clients, regulators and other key stakeholders as we advance these concepts in partnership with the industry.”
Jennifer Peve, managing director, business innovation at DTCC, said: “Projects Ion and Whitney represent the next steps in our digitalisation journey. Both serve as examples of practical experiments incorporating innovative technology and business concepts designed to strengthen post-trade processes and provide a resilient, secure and efficient post-trade infrastructure for the industry.”
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