Julien Hammerson, Calastone
London - Calastone, the funds transaction network, has announced the successful completion of the first phase of its distributed market infrastructure proof-of-concept (PoC) to test the feasibility of using blockchain to develop a common global marketplace for the trading and settlement of mutual funds.
The tested distributed infrastructure model proved capable of processing transactions equivalent to a full day's trading sourced from across Calastone's global transaction network.
Julien Hammerson, Calastone CEO commented, "Our vision is to enable friction-free trading for funds industry participants."
Calastone has announced a second phase to its PoC, and is now engaged with a number of design partners drawn from its client base.
"The design partners will help us test the model and understand the business challenges and requirements from a market participant perspective. It's through technological innovation such as this that we aim to address the business and technical trading challenges faced by our customers across international markets," said Ken Tregidgo, Calastone Deputy CEO.