Trillions of dollars of credit derivatives work their way through a legacy system for lifecycle event processing, trade reporting, and settlement services. Any discrepancies between trade information on firms’ internal systems result in costly reconciliation, processing, and settlement delays.
Axoni’s distributed ledger solution, implemented in partnership with industry leaders, provides each counterparty with a continuously synchronized ‘golden record’ of credit derivative transactions (press release). Leveraging the power of smart contracts, trade lifecycle events can be processed in a more transparent and efficient manner, and cash flows and payment information are inherently synchronized between counterparties and/or between systems at a given firm.