SINGAPORE, Feb 9 (Bernama-BUSINESS WIRE) — CSOP Asset Management Pte. Ltd. (‘CSOP’) and leading Singapore FinTech firm, Hashstacs Pte Ltd (‘STACS’) today announced the completion of their Over-the-Counter (‘OTC’) Derivatives Trade Processing prototype, built by STACS on its Distributed Ledger Technology (‘DLT’)-based platform, Vetta. Set in the context of the Asset and Wealth Management industry, the teams collaborated closely over the course of two months to build a blockchain-powered platform that allows for automated concurrent processing and real-time, perpetual reconciliation of OTC derivatives trades. The adoption of DLT and smart contracts in this collaboration aims to enable new market opportunities and operating models, eliminating long-standing inefficiencies well-recognised in the industry and improving risk management.
This is part of the long-term collaboration between STACS and CSOP to deploy a live solution for efficient OTC trade processing across different asset classes. The platform aims to eliminate and streamline bespoke trade matching parameters and resolve trade exceptions in real-time.
http://mrem.bernama.com/viewsm.php?idm=42366