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Seven buy-side and sell side firms, including Alliance Bernstein, Citi, Credit Suisse and HSBC are applying Axoni's distributed ledger to another technology pain point, the identification tags attached to things they trade.
The new application to reference data is the most recent of a series of projects in which big banks hope to take costs out of their complex, expensive, and often troubled back-office systems. Banks are working on tests involving international money transfers, derivatives, syndicated loans and agricultural commodities.
http://www.wsj.com/articles/banks-test-blockchain-network-to-share-trade-data-1474379893
More posts by Gareth Jones
