"There are so many things that happen in the market that rely on this index data," Mr. Pennington said. Currently, this data must travel through multiple parties and distribution channels before it reaches investment professionals. With the blockchain, any update to the index data is made instantly and is available to all parties involved, reducing time, the need for manual work, and changes for errors. Mr. Pennington said it will allow Vanguard to cut its own costs while improving how accurately its funds track an index.

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