The Post-Trade Distributed Ledger (PTDL) Group announced today that 37 financial institutions are now members of the consortium. The PTLD Group was formed last year by big post-trade industry leaders to examine the impact of distributed ledgers on the securities clearing industry.
“Through PTDL, we are connecting post trade practitioners, regulated exchanges, regulators and central banks on this issue to see how best it could benefit the post-trade industry.”
According to a Mondovisione report, the group has also appointed three firms as advisers: Ernst & Young, Norton Rose Fulbright and Citigate Dewe Rogerson.
Ernst & Young will consult the organization on blockchains and distributed ledger technologies. Norton Rose Fulbright, a London-based multinational law firm with offices in more than 50 major cities, will advise the PTLD Group on legal matters surrounding the application of the new technology in the financial industry. Global public relations firm Citigate Dewe Rogerson, will be working with the group on various PR campaigns.
The PTLD Group also announced that several prominent banks and exchanges will be part of its organizing committee: London Stock Exchange Group, State Street, HSBC, UniCredit, Euroclear and CME Group.
Sandra Ro, Executive Director and Digitization Lead at CME Group, believes the innovative technology will have a significant disruptive effect on the securities clearing & settlement industry , “The potential impact of Blockchain and distributed ledger technology on the post-trade industry is huge, and as with all pioneering developments, there is great excitement but also uncertainty.” she said.
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