global funds network Calastone announced that it switched its entire system for fund trade clearing services to its Distributed Market Infrastructure (DMI) in a press release on May 20.
Per the release, the migration of the company’s over 1,800 over 41 markets “represents the largest community of global financial services organisations connecting and transacting via .” In the announcement, the institution also forecasts that the resulting savings for the mutual funds market will amount to over £3.4 billion per year ($4.33 billion). The release reads:
“Financial services organisations around the world — whichever size and scale — can, through the DMI, now access a fully mutualised global funds marketplace whereby the , settlement and servicing of funds is conducted in real-time.”
The bank claims that the system also brings a new service — dubbed the Sub-Register — “which creates a shared, real-time view and history of the registers between partners at any point in the distribution chain.”
As Cointelegraph at the time, Calastone stated in December of last year that it planned to launch its -based solution in May 2019.
Earlier today, Cointelegraph also that the city of will implement technology in the system underpinning its citizen cards.
Published at Mon, 20 May 2019 16:28:08 +0000
