ING representatives said for EconoTimes that the partners carried out trade matching tests on R3’s distributed ledger technology platform Corda to process FX trades, and confirmed correct matching in real time across four different time zones. By releasing a ‘golden copy’, the newly-tested trade matching application allows traders involved in a transaction to look at the same information. Each trader can then update their records in one common data set instead of collecting information from different systems.
Earlier in April 2017, Calypso started developing a DLT application for trade matching confirmations in collaboration with R3 and a group of global financial institutions including Westpac Banking Corporation in Sydney, ING in Amsterdam, BBVA in Madrid, Banco de Credito del Peru (BCP) in Lima, and a large investment management company in the US.
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