“Wall Street’s Bookkeeper” Enters Test Phase of DLT Replatforming Along With 15 Major Banks
On Nov. 6, the post-trade market infrastructure behemoth, the Depository Trust & Clearing Corporation (DTCC), announced that it is entering the test phase of its attempt to re-platform its Trade Information Warehouse (TIW) via the use of distributed ledger technology (DLT).
DTCC enters active trial phase for TIW re-platforming. The move to a blockchain platform comes at a time when many financial institutions are trialing the technology. In early November, Morgan Stanley released a report updating its clients about Bitcoin and blockchain, documenting several industry giants who have either already implemented blockchain or are in the process of trialing it. The report named ING Bank, Morgan Stanley, JPMorgan, and several other as being in the various stages of trials.