The Canadian Securities Exchange is planning to launch a blockchain-powered platform to clear and settle securities trades, challenging the monopoly long held by TMX Group Inc. and its own ambitions with the technology. Article Continued BelowThis clearing house, if approved, would serve as a rival to Canadian Depository for Securities Ltd., which has long served as the country’s main securities and fixed income clearing and settlement hub. CDS is owned by the TMX Group, Canada’s biggest exchange operator that operates both the Toronto Stock Exchange and the TSX Venture. In October, the TMX Group announced it was collaborating with the Bank of Canada and Payments Canada to experiment with using blockchain technology to automate the securities settlement process. This project to develop a proof of concept for clearing and settling securities marked the third phase of the Canadian central bank’s Project Jasper looking at how digital ledger technology could transform payments in Canada.

Source: thestar February 13, 2018 17:03 UTC