The distributed-ledger technology (DLT) driven settlement service, Project Ion, is now processing an average of more than 100,000 bilateral equity trades daily and more than 160,000 transactions on peak days in parallel production
“Project Ion holds the promise of new settlement functionality supported by robust technical capabilities and is a key part of our on-going efforts to further accelerate settlement," says Michele Hillery
Jennifer Peve has been appointed as head of strategy and business development at the DTCC, and is set to join the DTCC Management Committee on 2 July
In order to move to T+1, DTCC says industry participants must align and agree to shorten the settlement cycle by implementing the necessary operational and business changes, and regulators must be engaged
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
Amid the Gamestop saga, Robinhood’s CEO has called for a fix on the ‘antiquated settlement structure’, but others in the industry argue the current T+2 settlement cycle is ‘ultra reliable’ and a real-time system could lead to many challenges
