Today Paxos Trust announced that Nomura’s Instinet and Credit Suisse achieved T+0 settlement for U.S. listed equities using the Paxos Settlement Service, which runs on a permissioned version of the ethereum blockchain. Société Générale is also a platform participant.
Two trades during the day, including one at 3 PM, were settled at 4.30 PM ET the same day. It’s usually possible to achieve this conventionally, but only if trades are executed before 11 AM.
“We’re excited to make progress in forging a path to faster settlement times at lower costs in public equities,” said Emmanuel Aidoo, Head of Digital Assets Markets at Credit Suisse. “These advancements will ultimately benefit the broader market as more firms join the platform.”
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