Pirum trials DLT extension of post-trade solution
09 October 2023 UK
Image: Valli/stock.adobe.com
Pirum has now tested a distributed ledger technology (DLT) extension of its securities lending and repo post-trade solution.
The firm says the extension provides clients with an 'immutable, transparent and distributable' golden-record of their trades for reference, audit and other purposes.
Further, the extension is designed to build on existing post-trade lifecycle workflow and automation, fed from real-time client books and record data integrations.
Pirum is working with a number of technology stacks to model the stock loan and repo golden-record ledger and smart contract lifecycle flows to benchmark features, performance and interoperability.
The firm says this is driven by the requirement to integrate with multiple industry DLT systems covering collateral, payments and settlement.
Pirum aims to automate the full post-trade lifecycle to provide an immediate and non-disruptive solution to improve operational efficiency.
Its approach is built on existing messaging and integration technologies, while providing participants with the optionality to interact and operate with emerging technologies, such as DLT, and avoid large IT investment.
The financial services technology vendor is also experimenting with how the benefits of DLT can be used today to solve existing industry challenges, including standard settlement instruction (SSI) management to further improve settlement efficiency, reliability and reduce fails, penalties, as well as unsecured credit risk.
The firm says the extension provides clients with an 'immutable, transparent and distributable' golden-record of their trades for reference, audit and other purposes.
Further, the extension is designed to build on existing post-trade lifecycle workflow and automation, fed from real-time client books and record data integrations.
Pirum is working with a number of technology stacks to model the stock loan and repo golden-record ledger and smart contract lifecycle flows to benchmark features, performance and interoperability.
The firm says this is driven by the requirement to integrate with multiple industry DLT systems covering collateral, payments and settlement.
Pirum aims to automate the full post-trade lifecycle to provide an immediate and non-disruptive solution to improve operational efficiency.
Its approach is built on existing messaging and integration technologies, while providing participants with the optionality to interact and operate with emerging technologies, such as DLT, and avoid large IT investment.
The financial services technology vendor is also experimenting with how the benefits of DLT can be used today to solve existing industry challenges, including standard settlement instruction (SSI) management to further improve settlement efficiency, reliability and reduce fails, penalties, as well as unsecured credit risk.
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