DTCC & Digital Asset Move to Next Phase

04.22.2017 - New York


DTCC & Digital Asset Move to Next Phase After Successful Proof-Of-Concept for Repo Transactions Using Distributed Ledger Technology

New Stakeholder Working Group will lead work to gather service requirements for Phase Two in $3 trillion per day market

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the successful completion of a proof-of-concept to better manage the netting process for U.S. Treasury and Agency repurchase agreement (repo) transactions leveraging distributed ledger technology (DLT). Working with Digital Asset, a developer of DLT solutions for financial institutions, the two companies have demonstrated for the first time the successful netting of “start” leg repo transactions with prior end-of-day net securities obligations in the DTCC environment.