LedgerEdge has rolled out a regulated distributed ledger technology (DTL) trading platform designed for corporate bonds.
The LedgerEdge platform is a decentralized Multilateral Trading Facility (MTF) that is fully regulated by UK’s Financial Conduct Authority (FCA). The platform was launched in partnership with major market makers, asset managers, and banks. It is also powered by R3’s Corda, a scalable, distributed, and permissioned platform that allows regulated markets to encourage a sense of trust between parties.
The First Of Its Kind
As of the time of writing, 45 companies are trading on the UK MTF. Additionally, about 70 companies have either been listed on the platform or are currently trading. Out of these numbers, 30 of them are major asset managers, while about seven of them are among the top 10 sell-side dealers.
Co-founder of LedgerEdge, David Rutter, commented on the development. He noted that the announcement today is a major milestone for LedgerEdge. He said the company will continue to lead in innovation, pioneering ideas to bring the next generation platform for market participants.
The new platform will provide solutions to a series of challenges to locate and promote liquidity and data ownership
The System Was Built Based On Customers’ Feedback
Co-founder and Chief Executive Officer of LedgerEdge, David Nicol, commented on the new trading platform.
He said the first fully-regulated bond trading platform built on DLT is a vital step and milestone for the industry. The market is on the verge of facing digital transformation and credit makers are likely going to benefit immensely. He added that the company is excited to be leading the way in the industry.
The entire system has been built based on feedback received from clients and the company hopes to continue in this way. Nicol appreciated the firm’s major participants for their unalloyed support towards the growth of the platform over the years. He hopes that the partnership will continue in the future to expand the trading volume and enhance the customer experience in the market.
Nicol says the company is introducing a modern ecosystem that will emphasize ease of execution and control in the historically liquid market.
