Back in March Japan Exchange Group (JPX), the Tokyo Stock Exchange owner announced plans for a series of blockchain pilots with the Japan Securities Depository Center. Last month it published the initial post trade use cases selected for the “B-POST” project.
Nineteen firms will participate in the pilots with NEC as the technology partner. The companies include Broadridge Japan, DTCC Japan, MUFG and subsidiaries of Nomura, Daiwa, Mizuho, HSBC and Merrill Lynch.
Two of the three uses cases relate to fund management, with the first focused on sharing basic information. When funds are established or deleted, the data is currently shared via email from the asset manager to broker/dealers and trust banks. That might include data such as corporate information, pricing, and the commencement date. Likewise, settlement and redemption information is shared by the trust bank using email. Instead, the idea is to use distributed ledger technology (DLT) as a shared source of information.
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