Today the big U.S. clearinghouse DTCC issued a whitepaper outlining the principles for tokenized securities and managing the post-trade processing. In 2017 the DTCC processed $1.6 quadrillion in securities transactions. Although most of the
paper explores the challenges of permissionless blockchains, part of it focused on issues with instant settlement, a feature most relevant to permissioned blockchains.
The DTCC has experience because it has a blockchain replacement in the works for its post-trade derivatives platform, the
Trade Information Warehouse which is expected to launch in Q2.
Pros and Cons of immediate settlement, delivery versus payment
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