Swift to explore blockchain for post-trade

Swift has signed an agreement with U.S.-based Nasdaq Market Technology, Russia-based National Settlement Depository, Switzerland-based SIX Securities Services, South Africa-based Strate, as well as the Abu Dhabi Securities Exchange, Argentina's Caja de Valores, and Chile's Depósito Central de Valores to discover a possible usage of blockchain for post-trade processes.
CSD Working Group of DLT have agreed on exploring how DLT can save money and bring new efficiencies to post-trade processes, the focus is on proxy voting area. No specific details were announced, but Stephen Lindsay, the head of standards, have said: "It's a complex area, and there are regional variations in the way that it works, so one thing is to bring the CSDs around the world [together] to actually focus in on the commonalities. It's not something where we've seen a lot of cooperation in the past, because different markets do things differently. But this is a chance to do something even more different."
Informally founded last year, the CSD Working Group on DLT formalized its requirements, adding the use of Swift's ISO 20022 messaging standard in November.

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