The Depository Trust and Clearing Corporation (DTCC) has announced development of a new distributed ledger technology solution for processing credit derivatives; DTCC has selected IBM, Axoni and R3 to lead the integration of the solution; IBM will manage the solution-as-a-service with Axoni providing infrastructure and smart contract applications and R3 participating as a solution advisor; the solution will be one of the first comprehensive financial services trade processing solutions used globally; its goal is to streamline, automate and reduce the cost of derivatives processing; the solution is anticipated for completion in 2018. Source
