The Gateway to Algorithmic and Automated Trading

BBVA and BBVA Bancomer deploy DLT-based FX matching pilot from Calypso Technology and R3

First Published 16th October 2017

San Francisco - Leveraging distributed ledger technology and cloud services, BBVA and BBVA Bancomer are piloting an FX matching application developed by Calypso Technology, a provider of cloud-based cross-asset trading software solutions for the financial markets, and enterprise software firm R3.

The application, which runs on R3's Corda platform and is facilitated by Calypso's Cloud Services, has been used by the two banks to match a live FX trade. Following a proof-of-concept earlier this year, the pilot was developed by BBVA, R3 and Calypso to enable real-time FX confirmation matching between banks and their counterparties, providing an alternative to the current systems and processes used for FX trade matching.