For the third straight year, DTCC was named on the Forbes’ Annual Blockchain 50 list of companies that are paving the way in employing distributed ledger technology (DLT).
“DTCC has been a leader in the digital transformation of financial markets and we continue to build on our legacy of innovation,” said Jennifer Peve, DTCC Managing Director, Business Innovation. “Through modernization, our goal is to deliver more efficient solutions in the post trade processing space.”
In 2017, DTCC selected IBM, in partnership with Axoni and R3, to provide a DLT framework to drive improvements in derivatives post-trade lifecycle events and move $11 trillion of credit derivatives to a blockchain. The solution enables DTCC and its clients to further streamline, automate and reduce the cost of derivatives processing across the industry by eliminating the need for disjointed, redundant processing capabilities and the associated reconciliation costs.
More recently, in 2020, DTCC unveiled plans to explore the benefits of digitalization in the public and private markets and whether new technologies can strengthen post-trade processes and reduce risks and costs. The proposals are contained in two case studies that advance the organization’s efforts to evaluate new ways to enhance post-trade processes through the digitalization of assets. The case studies – Project Ion and Project Whitney - examine the potential use of DLT, asset digitalization and other emerging technologies. Project Ion seeks to build on DTCC’s successful efforts over the past several years to further optimize the settlement process in the public markets, while Project Whitney considers opportunities to provide increased levels of digitalization throughout the private market asset lifecycle.