Global Stock Exchanges, Clearing Houses and Banks to Form Group to Investigate Blockchain Technology

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Some of the world’s largest exchanges, banks and trading services firms have set up a cross-industry group to explore how blockchain technology could transform the way securities trades are cleared, settled and reported.

According to a report by the Anna Irrera for the Financial News (subscription), three meetings have recently occurred between some of the top stock exchanges in the world… the London Stock Exchange, LCH.Clearnet, Societe Generale, CME Group, UBS and Euroclear.

The group is allegedly called the “Post Trade Distributed Ledger Working Group”.

A spokesperson for the London Stock Exchange told Financial News that it believes collaboration and strategic partnerships will best allow incumbent financial institutions to unlock the benefits of distributed ledgers.

“Our view is the technology needs to be developed in a considered and rigorous manner, in partnership with clients, to provide the right service and benefit to them,” the spokesman continued, later saying that the London Stock Exchange “has significant technical expertise to bring to the discussion”.

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Founder of Blockchain News and The Hackitarians Foundation, Richard Kastelein is an award winning publisher and editor, hackathon organiser and entrepreneur. He has written over 700 articles at Blockchain News, has a massive network in the Blockchain arena and is available as a speaker and consultant. (richard@the-blockchain.com) Kastelein has spoken (keynotes & panels) on technology at events in Amsterdam, Barcelona, Belfast, Berlin, Brussels, Brighton, Copenhagen, Cannes, Cologne, Curacao, Frankfurt, Gdansk, Hollywood, Hilversum, Geneva, Groningen, London, Las Vegas, Leipzig, Madrid, Melbourne, NYC, Oxford, Rio de Janeiro, Sheffield, San Francisco, San Jose, Sydney, Tallinn, Vienna, and Zurich. A Creative Technologist & Canadian (Dutch/Irish/English/Métis) his career began in the Native Press (Canadian Arctic) and he later spent a decade in the Caribbean media. Currently, he writes occasionally for Wired Insights, Guardian & Virgin and his articles have been translated into Dutch, Greek, Polish, German & French.