JP Morgan first to use integrated Baton Systems shared ledger collateral workflow at LCH

JP Morgan will become the first participant to leverage a newly integrated shared ledger collateral workflow following a partnership with post-trade technology provider Baton Systems and LCH. The clearinghouse and Baton Systems have teamed up in a bid to automate end-to-end collateral workflow for derivatives trading, using Baton’s shared permission ledger platform. Baton’s shared permission ledger integrates with existing collateral and cash systems of external providers for real-time visibility and faster movement of assets by giving firms access to consolidated intra-day information in one location. It aims to create better visibility of margin requirements and of asset movements at external custody banks and central counterparties (CCPs), as well as providing a standardized process for pledging and recalling collateral.