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BlackRock is embracing blockchain technology to make it easier to handle complex equity derivatives. The world’s largest money manager joined Goldman Sachs and Citigroup on Axoni's distributed-ledger system called Veris. The network is designed to help firms match and reconcile post-trade data on stock swaps.
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Veris “will help us build scalability while mitigating risks in the investment life cycle beginning with equity swaps,” Mark Cox, BlackRock’s chief operating officer of global investment operations, said in the statement. “We see great potential in a distributed-ledger network for uncleared derivatives.”
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