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Citi, CME Group implement distributed ledger

By TechTaffy Desk

Citi and CME Clearing have implemented a real-time distributed ledger platform developed by Baton Systems, a payments technology provider. The solution allows a bank to view the collateral in its ledgers in real time, send cash or securities with one click to a clearing house, and receive an immediate acknowledgment, regardless of the current technologies they are deploying.

The blockchain-inspired software could materially reduce the cost of back-office operations and speed up margin funding times, said the companies in a statement. Currently, banks have to set aside capital as they wait for collateral to be settled.

[Image courtesy: Citi]

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