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”.

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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