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HomeNewsR3 Founder David Rutter Unveils New Blockchain-Based, Bond Market Platform LedgerEdge

R3 Founder David Rutter Unveils New Blockchain-Based, Bond Market Platform LedgerEdge

R3 founder David Rutter says he is looking to tackle some of the biggest challenges in the corporate bond market with his new trading platform, LedgerEdge.

“The secondary market for corporate bonds is growing and is ripe for evolution, but existing platforms are not fit for purpose. Data is monetised by platforms and it is leaked across fragmented, opaque markets, decreasing execution quality. Working with the industry, we will build a platform that solves the challenges of locating and promoting liquidity and data ownership once and for all.”

He says LedgerEdge intends to apply a combination of blockchain technology, artificial intelligence, and secure enclave computing to improve liquidity by enabling discovery of prices and trades while preventing data leakage.

The corporate bond market lags behind other asset classes in adoption of digital technology; barely 30 per cent of the $59bn in daily trades is currently executed electronically.

LedgerEdge will follow the same collaborative approach taken by R3, in creating an ecosystem of market participants to work together in delivering a working platform.

Rutter has gathered a team of seasoned professionals to spur development, including David Nicol (IBM/R3) as CEO, Ian Chicken (ICAP/BrokerTec) COO and Bob Bose (Santander/NYSE Euronext) as CTO. Rutter will maintain his position as CEO of R3.

LedgerEdge will be licensed as an MTF in the UK with suitable licenses in the US.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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