Archax has selected R3’s Corda Enterprise platform to reduce friction in its post-trade processes.
As part of the partnership, Archax will use a private version of Corda Enterprise within its own system to handle post-trade activities, on a distributed ledger system.
Archax provides an exchange for institutions and professional investors to trade in all types of digital securities globally.
Its application to operate a multilateral trading facility in London is currently being considered by the Financial Conduct Authority.
Graham Rodford, CEO of Archax, commented: “R3, with its Corda product, provides the final piece of the puzzle on which we can build a truly revolutionary post-trade solution. This partnership will deliver the blockchain efficiency gains for financial markets that are so often talked about, and we believe will be the first of its kind.”
He added: “This partnership between R3 and Archax will enable us to revolutionise the current post-trade space, removing friction and streamlining activities to improve efficiency and reduce cost.”
Cathy Minter, chief revenue officer at R3, said: “R3 made a conscious decision to leverage blockchain technology to solve real business problems in both complex and highly regulated markets. Representing assets as tokens on a blockchain platform is one of the most impactful applications of the technology and a key focus for R3.”
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