[2017-05-19] ToI: DTCC on track for Q1 2018 blockchain CDS reporting

DTCC on track for Q1 2018 blockchain CDS reporting

http://timesofindia.indiatimes.com/business/international-business/dtcc-on-track-for-q1-2018-blockchain-cds-reporting/articleshow/58751321.cms

The Depository Trust & Clearing Corporation plans to go live in the first quarter of 2018 with its blockchain-driven platform for credit default swaps reporting.

The digital ledger platform will initially launch in shadow mode, operating alongside existing infrastructure.

In conjunction with fintech partners Axoni, IBM and industry consortium R3, the post-trade infrastructure provider began work in January to rebuild its Trade Information Warehouse, which handles reporting on US$11trn of CDS notional, with a permissioned ledger.

The initial launch comprises an internal replacement of DTCC's mainframe processing system but the multi-step process aims to deliver widespread simplification of transaction reporting across the swaps market, potentially changing the role of trade repository operators altogether.