ICAP Completes Blockchain Proof of Technology Test with Axoni
ICAP, a markets operator and provider of post trade risk mitigation and information services, just revealed that its post trading division has completed a proof of technology test case for “a distributed ledger using blockchain technology.”
The proof of technology was completed on 26 February 2016 and, which ICAP believes, has the potential to significantly transform post trade operations, while complying with new market practices within the post-crisis regulatory environment.
The test of blockchain technology by ICAP’s Post Trade Risk and Information division (PTRI) leveraged the multi asset messaging and matching Harmony network, and blockchain infrastructure provided by Axoni, a New York-based technology firm, to create a private, peer-to-peer, distributed ledger network using smart contracts.
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