Share this article
Interdealer Broker ICAP Completes Post-Trade Blockchain Trial
Interdealer broker ICAP has completed an internal blockchain technology trial focused on securities post-trade processes.
By Stan Higgins
Updated Dec 11, 2022, 2:00 p.m. Published Mar 16, 2016, 6:33 p.m.
Make us preferred on Google
Interdealer broker ICAP announced today that it has completed an internal blockchain technology trial focused on securities post-trade processes.
ICAP's Post Trade Risk and Information division conducted the test last month, completing it on 26th February, the firm saidhttp://newsroom.icap.com/icaps-post-trade-risk-and-information-division-announces-completion-of-a-blockchain-proof-of-technology/, with blockchain startup Axoni providing the software infrastructure for the trial.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The UK-based firm said that the test involved the use of a multi-asset messaging and matching network called Harmony, from which messages were converted, in real time, to smart contracts built on a blockchain.
ICAP explained:
"The smart contracts were then distributed to nine representative participant nodes on the blockchain network, where trades were permissioned for additional services such as valuation, compression and reporting."
The company said that the test results showed how blockchain technology can improve the security and accuracy of data flows in the post-trade environment, as well as cut back-office costs.
"In successfully completing a proof of technology test, ICAP has demonstrated one of the first real world applications of distributed ledger technology that has the ability to significantly transform the post trade landscape," Jenny Knott, CEO of ICAP’s post trade division, said in a statement.
The trial is the latest effort to demonstrate how blockchain tech could be applied to post-trade processes, during which transactions are approved and the assets and cash involved are exchanged between the parties after a trade has taken place.
Firms like Japanese bank Mizuho and regulators such as the European Securities and Markets Authority (ESMA) have recently conducted work in this area. Last fall, a group of companies including the London Stock Exchange, Société Générale and UBS formed a working group specifically focused on post-trade applications of the technology.
This article has been updated.
Image via Shutterstock
Більше для вас
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
Що варто знати:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
Más para ti
Circle’s biggest bear just threw in the towel, but warns the stock is still a crypto roller coaster
Circle’s rising correlation with ether and DeFi exposure drives the re-rating, despite valuation and competition concerns.
Lo que debes saber:
- Compass Point’s Ed Engel upgraded Circle (CRCL) to Neutral from Sell and cut his price target to $60, arguing the stock now trades more as a proxy for crypto markets than as a standalone fintech.
- Engel notes that CRCL’s performance is increasingly tied to the ether and broader crypto cycles, with more than 75% of USDC supply used in DeFi or on exchanges, and the stock is still trading at a rich premium.
- Potential catalysts such as the CLARITY Act and tokenization of U.S. assets could support USDC growth, but Circle faces mounting competition from new stablecoins and bank-issued “deposit coins,” and its revenue may remain closely linked to speculative crypto activity for years.
Top Stories
