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The Blockchain 50: DTCC Recognized as DLT Leader

By DTCC Connection Staff | 1 minute read | March 9, 2022

The Forbes Blockchain 50 features companies that lead in employing distributed ledger technology (DLT) and for the fourth straight year, DTCC has been recognized for our approach to innovation in this space.

Related: "DLT in the Real World" Podcast with DTCC's Jennifer Peve

What They’re Saying: “If you bought or sold a security in the U.S. last year, odds are that the clearing and settlement services were provided by DTCC, far and away the largest post-services firm in the world. In September, DTCC, which processed $2.3 quadrillion in 2020 trades (total face value of the securities; trailing 12-month sales $2 billion), successfully completed a six-month test on a blockchain project that will reduce errors and cut settlement times from two days to less than one. DTCC’s main business remains publicly listed securities, but its new Digital Securities Management application is targeting pre-IPO companies with privately traded shares.” – 2022 Forbes Blockchain 50

Magnificent 7: As one of only seven companies to make the Forbes Blockchain 50 list all four years, we’re proud that our position as an industry leader in the fintech space is being recognized. The other companies joining this prestigious list include: Ant Group, Coinbase, J.P. Morgan, Samsung, Signature Bank and Walmart.

Advancing Innovation: Every day we are focused on developing and delivering innovative solutions to help our clients reduce risk and costs while boosting efficiencies. For several years we’ve been examining the potential use of DLT, asset digitalization and other emerging technologies to strengthen post-trade processes and reduce risk and cost for the industry.

Building the Future of Settlement: Project Ion was formed in 2020 to evaluate if the digitization of assets on DLT could reduce cost and risk for the industry while paving a path to modernizing the capital markets infrastructure and facilitating accelerated settlement. After a successful prototype pilot, the Project Ion initiative moved into a developmental phase as we work toward building the settlement system of the future.

Modernizing the Private Markets: Also formed in 2020, Project Whitney was created as a multi-phase project to assess the practical and commercial viability and value of a modern digital infrastructure supporting private market securities. In 2021, we outlined how our Digital Securities Management (DSM) Platform will provide an industry-wide solution that offers common market infrastructure and standards across private markets.

What We’re Saying: “At DTCC, our role is to identify high potential use cases in the post-trade space – working collaboratively with our community, while applying responsible innovation to implement new, but safe, processes and capabilities that bring increased efficiency and risk management capabilities to financial markets.” – Jennifer Peve, DTCC Managing Director, Head of Strategy and Business Development