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Mutual Funds Network Calastone’s ‘Real-Time’ Blockchain Platform Is Live
Summary: Calastone, a transactions network for the mutual funds industry, has moved to its own blockchain-based settlement system, the firm announced Monday. The new system, the Distributed Market Infrastructure (DMI), is designed to enable cheaper, “friction-free” trading, settlement and servicing of funds in real-time, the firm said. London-headquartered Calastone serves over 1,800 customers across 41 countries, including ...
Calastone, a transactions network for the mutual funds industry, has moved to its own blockchain-based settlement system, the firm announced Monday.
The new system, the Distributed Market Infrastructure (DMI), is designed to enable cheaper, “friction-free” trading, settlement and servicing of funds in real-time, the firm said.
London-headquartered Calastone serves over 1,800 customers across 41 countries, including notable entities such as JPMorgan Asset Management. Until now, the network’s processes for settling funds were manual-based, including over 9 million messages and transactions worth about $217 billion a month between buyers, sellers and distributors.
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Link: Mutual Funds Network Calastone’s ‘Real-Time’ Blockchain Platform Is Live [Copy]
