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The DTCC has announced that it is performing industry-wide testing on its project to re-platform its credit derivatives TIW ("trade information warehouse") on distributed ledger technology. Portfolio company Axoni is proud to have built the infrastructure and smart contract applications for this groundbreaking project.
Since selecting the consortium of IBM, Axoni, and R3, DTCC and its partners have completely recoded the functionality of the TIW, utilizing DLT and the cloud in only 18 months. IBM is leading the initiative by providing program management, DLT expertise, and integration services. Axoni provides the distributed ledger infrastructure and smart contract applications built on the AxCore blockchain protocol, with R3 acting as a solution advisor. The TIW serves as the golden record for bilateral credit derivatives, performing lifecycle events, payment calculations and settlement through CLS. Additionally, it includes cleared derivative positions from ICE, the Japan Securities Clearing Corporation (JSCC) and LCH SA’s CDSClear, providing market transparency through its public reporting across both cleared and uncleared transactions.
