Today the DTCC
announced it has entered the test phase for its updated credit derivatives Trade Information Warehouse (TIW). TIW processes $9.9 trillion of cleared and bilateral derivatives. Fifteen leading global banks are testing the new distributed ledger technology platform, including Barclays. The platform is expected to launch in Q2 of 2019.
The other 14 banks were not mentioned in the statement, but the 2016 proof of concept included Bank of America, Citi, Credit Suisse, and JP Morgan.
Lee Braine from the Chief Technology Office at Barclays commented: “We are pleased to be working with DTCC, our partners and colleagues on this exciting project to bring distributed ledger technology to life in a demonstrable way that will enhance efficiencies and lower costs and risks for the industry.”
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