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Calastone makes switch to blockchain

Calastone has successfully launched its blockchain-enabled distributed market infrastructure for fund managers around the world, including in New Zealand.

Wednesday, May 22nd 2019, 6:00AM

The technology underpinning Calastone’s network has now been migrated to a blockchain-enabled market infrastructure.

The migration of Calastone’s global network of more than 1800 customers across 41 markets is a world-first and represents the largest community of global financial services organisations connecting and transacting via distributed ledger technology.

It involves more than 17 fund managers, two registries and six platforms in New Zealand.

Acting head of Calastone Australia and New Zealand Ross Fox says that Calastone is having many exciting discussions with industry participants across the region’s managed funds trading and settlement chains about enhancements enabled by blockchain. More details will be shared as these explorations progress. 

He says the reception to blockchain as an enabler of new and improved services has been extremely strong in this market, reflective of the industry’s acceptance that it needs to improve processes and outcomes for investors.

At launch, the DMI immediately solves several key points of friction which are fully automated and visible as all participants are connected into a common infrastructure. It will also bring a new service, the Sub-Register, which creates a shared, real-time view and history of the registers between trading partners at any point in the distribution chain.

Tags: blockchain

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Last updated: 23 August 2019 8:51am

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