JPMorgan, Goldman Sachs Trial DLT for Equity Swaps

A group of major financial firms including JPMorgan Chase and Goldman Sachs has trialed the exchange of equity swaps over a distributed ledger (DLT) system.

Using the AxCore distributed ledger platform from startup Axoni, the pilot – which also included BNP Paribas, Credit Suisse and Citi – saw the banks process equity swaps from start to finish, according to an announcement from today. The trial looked at the potential of DLT to streamline the way swaps are made.

By carrying out trades across a network where all parties use the same valuation data and share the same books, in theory, payments can be processed nearly instantaneously and disputes over transactions will be less likely.

Greg Schvey, CEO of Axoni, said in a statement: […]

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