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Title: [2016-03-23]Global Markets Operator ICAP Successfully Implements Blockchain Tech Post by: resources on March 23, 2016, 04:02:45 PM ICAP, a leading markets operator and provider of post trade risk mitigation and information services with more than $1.6 billion in revenue, announced that its Post Trade Risk and Information (“PTRI”) division has successfully carried out a proof-of-technology pilot test using blockchain technology.
The ICAP PTRI division plans to use its newly developed proof-of-technology protocol to handle post-trade processing, a process in which the buyer and the seller compare trade details, alter ownership records, transfer securities and cash and approve transactions. The foundation and infrastructure of ICAP’s blockchain technology-based proof-of-technology protocol is developed by a New York-based technology firm called Axoni. By using Axoni’s pre-developed blockchain-based system and the Harmony network’s multi-asset messaging and matching platform, the ICAP proof-of-technology protocol imports matched messages from the Harmony network and converts them to store the asset data on their blockchain network through smart contracts. https://bitcoinmagazine.com/articles/global-markets-operator-icap-successfully-implements-blockchain-technology-pilot-1458746121 |