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