Following the success of a prototype pilot, the Depository Trust & Clearing Corporation ("DTCC") said that its "Project Ion" initiative to create a new settlement platform based on distributed ledger technology ("DLT") will move into full development. The alternative settlement platform is intended to shorten the settlement cycle.

In a new white paper, "Building the Settlement System of the Future," DTCC said that it now has "quantitative data and qualitative feedback to build out a production-ready workflow and a roadmap for, subject to regulatory approval, future full industry integration and adoption."

DTCC estimated that the Project Ion platform would be launched in the first quarter of 2022.

Primary Sources

  1. DTCC Press Release: DTCC's Project Ion Platform Moves to Development Phase Following Successful Pilot with Industry
  2. DTCC White Paper: Building the Settlement System of the Future

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