Paris
05 July 2017
Reporter: Stephanie Palmer

BNP Paribas and SmartAngels launch DLT share management tool


BNP Paribas Securities Services and equity crowdfunding fintech SmartAngels have finalised the first phase of their blockchain partnership, developing a share register management tool using the distributed ledger technology.

Through the partnership, formed last year, BNP Paribas and SmartAngels have created a platform allowing unlisted companies to digitise their financial securities and manage shareholder registers using a centralised distributed ledger.

Functions are designed to allow companies to manage the entire lifecycle of their financial securities, from issuance to the sale and purchase of securities.

Five clients have already had their share registers loaded onto the platform, four start-ups and SigFox, an internet of things connectivity service and existing client of BNP Paribas Securities Services.

Nelson Fernandes, senior business lead for blockchain at BNP Paribas Securities Services, said: “We are delighted to be working with SmartAngels on this project and to welcome SigFox onto the platform during the test phase.”

“We have identified where the processes relating to issuing, buying and selling unlisted stocks needs to be optimised. Our platform aims to deliver a digital solution that meets the needs of all market participants and professionals in these markets.”

Benoît Bazzocchi, president and founder of SmartAngels, said: “Our partnership with BNP Paribas Securities Services is proving very successful. We will continue to develop value-added services for issuers and shareholders, including business angels and private equity firms.”

“Adding shareholder management and portfolio monitoring services to our existing offering will help us reinforce our role as the specialist marketplace for unlisted stocks.”

BNP Paribas is now working on industrialising the platform before it will be commercialised.

More technology news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Raymond James selects Red Deer for MiFID II
16 January 2018 | London | Reporter: Jenna Lomax
Raymond James Investment Services has chosen Red Deer’s research valuation management solution to adhere to MiFID II
Northern Trust acquires technology resources from Citadel
12 January 2018 | Chicago | Reporter: Jenna Lomax
Citadel has agreed to give Northern Trust the software development rights for Omnium, a software solution, along with an undisclosed number of development staff
SETL and OFI AM being to process blockchain transactions on IZNES
11 January 2018 | Paris | Reporter: Jenna Lomax
IZNES, which is powered by SETL’s blockchain technology, has used the IZNES system in a series of trials with selected clients
DTCC launches new trade processing platform
10 January 2018 | New York | Reporter: Jenna Lomax
DTCC Exception Manager is DTCC’s latest addition to its trade processing product suite, supporting and securities transactions globally
Synechron: Innovation will remain key in 2018
09 January 2018 | New York | Reporter: Becky Butcher
Innovation will be the driving force in advancing key priorities such as compliance, risk and automation in 2018, according to Synechron
Linedata teams up with LSE’s Una Vista for MiFID II
03 January 2018 | Paris | Reporter: Jenna Lomax
Linedata will use UnaVista as an approved reporting mechanism to report transactions to national competent authorities for all required asset classes
Texan broker completes first CME Clearing bitcoin futures trade
02 January 2018 | Houston | Reporter: Jenna Lomax
Choice! Natural Gas, a portfolio company of inter-dealer broker OTC Global Holdings (OTCGH), has completed its first bitcoin-denominated futures block trade through CME Clearing
More technology news