Brazilian exchange joins R3
07 September 2016 S茫o Paulo
Image: Shutterstock
Brazil鈥檚 BM&FBovespa has become the first exchange to join the R3 network to pursue market uses of distributed ledger technology.
R3, a blockchain technology provider, leads the network of over 60 global financial institutions to explore blockchain鈥檚 commercial uses.
David Rutter, CEO of R3, said: 鈥淒istributed and shared ledger technology can transform the way in which financial market infrastructures such as BM&FBovespa issue, record and transfer assets, enabling transactions and reference data to be visible to all relevant parties on the ledger.鈥
鈥淭his can cut effort and costs dramatically. We are pleased to welcome BM&FBovespa to our growing network of consortium members in Brazil.鈥
Fabio Dutra, client and business development managing director at BM&FBovespa, added: 鈥淲e believe that strong collaboration with our customers, regulators and vendors is crucial to future-proof financial and capital markets.鈥
鈥淚nnovation with appropriate regulatory oversight is paramount to making the Brazilian markets even more efficient and reliable. Shared ledger technology may play an important role here.鈥
R3, a blockchain technology provider, leads the network of over 60 global financial institutions to explore blockchain鈥檚 commercial uses.
David Rutter, CEO of R3, said: 鈥淒istributed and shared ledger technology can transform the way in which financial market infrastructures such as BM&FBovespa issue, record and transfer assets, enabling transactions and reference data to be visible to all relevant parties on the ledger.鈥
鈥淭his can cut effort and costs dramatically. We are pleased to welcome BM&FBovespa to our growing network of consortium members in Brazil.鈥
Fabio Dutra, client and business development managing director at BM&FBovespa, added: 鈥淲e believe that strong collaboration with our customers, regulators and vendors is crucial to future-proof financial and capital markets.鈥
鈥淚nnovation with appropriate regulatory oversight is paramount to making the Brazilian markets even more efficient and reliable. Shared ledger technology may play an important role here.鈥
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