- Calastone's entire global fund transaction network to be migrated to
blockchain in May 2019
- The first transition to blockchain for the global funds sector - making
funds more accessible to all market participants and investors across 40
markets, and more than 1,700 financial organisations
- Calastone's Distributed Market Infrastructure will transform the trading
of mutual funds, creating a global funds marketplace best equipped to
meet the needs of future generations of investors
- The DMI has the potential to reduce the overall global cost of fund
distribution by as much as GBP3.4 billion* per year
Calastone, the global fund transaction network, today announces that its entire global network of more than 1,700 financial organisations, across 40 global markets, will be migrated to blockchain in May 2019 via the company's new Distributed Market Infrastructure (DMI).
The migration, a world-first, connects one of the largest communities of global financial organisations using distributed ledger technology, marking a significant step for the digitalising of the funds sector.
The DMI creates a global funds marketplace, in which buyers and sellers can connect and transact. It creates an ecosystem within which the trading, settlement and servicing of funds is friction free, eliminating ever-growing risk and costs for fund managers and investors, embedded within the current system.
At the same time, organisations can leverage the open technology on which the DMI is built, allowing them to innovate, stay competitive and offer new services and investment opportunities better suited to the changing, more sophisticated needs of modern investors.
Calastone believes that the overall global cost of fund distribution could be reduced by as much as GBP3.4 billion*, achieved through the technological mutualisation of the trading and settlement processes.
