Calastone successfully tests use of blockchain technology for fund trading

Phase two expected to complete over next nine to 12 months

Global funds transaction network Calastone has completed phase one of testing the possibility of using blockchain to develop a marketplace for mutual fund trading.

In phase one, the tested model processed the equivalent of a full day's trading sourced from across the firm's transaction network, which covers 12,000 trading links and 1,200 fund distribution and fund manager clients across 34 markets. The completion of its distributed market infrastructure proof-of-concept (PoC) meant the firm has recently started phase two of the process, where it will engage with a range of clients across the industry in order to determine what the challenges will be and how to address them. The disruptive power of blockchain for financial services firms Phase...