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- The Depository Trust and Clearing Corporation (DTCC), a post-trade financial service provider has established two new projects namely Ion and Whitney.
- The launch of these two projects is mainly to enhance post-trade settlement in the public and private markets.
- Project Ion is to expand the industry’s settlement capabilities including DLT and tokenized securities. Whereas, Project Whitney has a protocol that can create opportunities for leveraging emerging technologies.
- However, both these initiatives are yet to progress and remain in the experimentation stage.
The Depository Trust and Clearing Corporation, an American post-trade financial service provider have established two new projects. These projects with labels ‘Ion’ and ‘Whitney’ are launched for the provision of asset digitalization, DLT, and asset tokenization. Forbye, the DTCC new projects will commence mainly with the aim to enhance post-trade settlement in the public and private markets.
The main motivation behind DTCC’s Ion is to extend DTCC’s offers in enhancing core clearing and settlement processes. Ion is a proof-of-concept project that has its focus on the public market settlement processes. Thereby, helping develop a stronger insight into the application of asset digitalization and distributed ledger technology (DLT).
On the other hand, the DTCC’s Whitney is mainly to serve the private markets that lack the infrastructure public markets have. Besides that, the project is eyeing those private markets that can offer increased levels of automation.
DTCC’s Clearing Agency Services Head Talks About The Project Ion
Furthermore, Murray Pozmanter, DTCC’s clearing agency services, global operations, and client services head also talked about the new initiative. He said that the Project Ion is to expand the industry’s settlement capabilities including DLT and tokenized securities.
Alongside this, it is also to develop an insight as to how DTCC can deliver additional value by exploiting these technologies. It aims to deliver added value to the industry and as well as the clients.
Both The Projects In The Experimentation Stage Yet: DTCC’s Managing Director
DTCC’s managing director and business innovation, Jennifer Peve have been heard commenting on the project Whitney. Project Whitney has a protocol that can create opportunities for leveraging emerging technologies, Jennifer stated. It is said that DTCC New Projects are for the development of completely new solutions.
Nonetheless, she asserts that both these new initiatives are yet in the experimentation stage. And the progress will follow only after further analysis and the industry’s feedback will determine the same.
