Two mutual fund firms are among the six firms in the first round of testing a new, blockchain-based data platform.
and Northern Trust
both recently participated in what Swift
executives are calling a successfully test of their new platform for helping asset managers track corporate action reports. The Swift team released
a 15-page report earlier this mont. Our sister publication CeFiWire dug into the news
Six asset managers participated in the platform test, according to the Swift folks. They revealed three of those asset managers: Northern Trust, American Century, and Citi
, securities strategy director at Swift, states that fund firms could receive up notifications (sometimes containing conflicting or even contradictory) from up to 100 sources on a single corporate event like a merger or dividend payment. Sorting through and cleareing up all that is where Swift's platform is meant to come in.
"Our experiments harnessed the power of blockchain technology to give all market participants a single, accurate view of a corporate action event," states Tom Zschach
, chief innovation officer at Swift.
Neil Anderson, Managing Editor
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