Ernst & Young and two other institutions have joined the Post-Trade Distributed Ledger (PTDL) Group, bringing the total number of members to 37.
The group brings together industry participants to share information and ideas about the uses of blockchain technology in the post-trade landscape.
Ernst & Young will provide general consultancy around the technology. Norton Rose Fulbright has also joined to advise on legal and regulatory issues, while Citigate Dewe Rogerson will provide public relations services.
The group includes global banks, custodians, central securities depositories, clearing houses, exchanges, regulators, government agencies and central banks. The committee is made up of representatives from CME Group, State Street, HSBC, UniCredit, Euroclear and the London Stock Exchange Group.
Sandra Ro, a committee member of the PTDL Group and executive director and digitasation lead at CME Group, said: “The potential impact of blockchain and distributed ledger technology on the post-trade industry is huge, and as with all pioneering developments, there is great excitement but also uncertainty.”
“Through PTDL Group we are connecting post trade practitioners, regulated exchanges, regulators and central banks on this issue to see how best it could benefit the post-trade industry. However, in order to do this effectively, we need external partners with specific specialisms.”
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