DTCC Moves to Testing Phase on Distributed Ledger Technology Platform

The Depository Trust & Clearing Corporation announced that it has advanced to the testing phase of its project to re-platform its credit derivatives Trade Information Warehouse (TIW) on distributed ledger technology (DLT) and cloud. In this phase, 15 global banks are conducting end-to-end, structured user acceptance tests, leveraging simulated use cases and test data, validating the interaction between systems, firms and other key market infrastructure providers (including MarkitSERV and its new platform for credit, TradeServ). Upon successful completion, DTCC expects to move to an “open” testing phase by the end of the year, when other market participants and service providers will have the opportunity to test. Testing is anticipated to be completed by Q1 2019 with go live scheduled thereafter.