[ I N - D E P T H
highly robust and cost-efficient,
says Peve. Indeed, the application
of blockchain technology to clear-
ing and settlement will need to ma-
ture in order to meet the requisite
volume demands and efficiencies
delivered by the current model, she
adds.
EuroCCP’s Chan agrees and says
B L O C K C H A I N ]
mental and will apply to bits and pieces of post-trade
processing starting “two-plus years from now” taking
at least five years and more to be ubiquitous.
“The [DTCC] TIW project aims for automated re-
cord keeping, lifecycle events, and payment manage-
ment for more than $11 trillion of cleared and bilateral
credit derivatives,” says Kandula. “It will be a stretch
to imagine that the entire post-trade lifecycle would be
using blockchain technology, but, it will be an evolu-
ASX commits to
implement DLT for the
purpose of replacing
CHESS Software testing to com-
mence from the second
quarter of 2019
December 2017 2019
there is a long way to go before
blockchain becomes universally
adopted in the clearing and settle-
ment world.
“It is not likely to become the
go-to solution for clearing and set-
tlement in the foreseeable future,”
she says.
ASX’s trailblazing venture—and
indeed DTCC’s when it is complet-
ed—appears to be more relevant to
help larger clearing intermediaries
looking to streamline post-trade
processing right now, if not all the
way to settlement. Kandula says
that progress is likely to be inc