A trade match made in heaven
31-7-2017 - Trading in financial markets involves databases that can’t easily communicate with each other, often leading to errors in the matching process. Those days could well be over soon, with blockchain-based technology coming to the rescue.
ING, together with Calypso Technology and the R3 consortium, proved that blockchain technology can help banks’ back-end infrastructures interact easier when processing trades. The partners carried out trade matching tests on Corda (the distributed ledger technology platform developed by R3) to process FX trades, and confirmed correct matching in real time across four different time zones.