Financial Blockchain Group PTDL Sees New Members - Bitcoin and Altcoins News

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May 6, 2016

Financial Blockchain Group PTDL Sees New Members

The blockchain-centric Post-Trade Distributed Ledger (PTDL) Group has announced new members joining its initiative which now sees 37 financial institutions and market infrastructure companies involved in the collective.
The PTLD Group, a consortium launched last year that consists of clearing and settlement houses, exchanges and banks among financial institutions coming together is an initiative with a focus on blockchain solutions in the post-trade industry.
In a recent announcement, the group has revealed the appointment of three external advisers. They are Ernst & Young (EY), a global services firm that will provide general consultancy on blockchain technology; Norton Rose Fulbright, a global law firm that will facilitate with a legal advisory capacity and; Citigate Dewe Rogerson, a communications firm that will help PTDL with public relations.
The group has also revealed that its organizing committee will comprise of representatives from CME Group, State Street, HSBC, UniCredit, Euroclear and the London Stock Exchange Group.
In a statement, executive director at CME (Chicago Mercantile Exchange) Group and now an organizing committee member of PTDL stated:
The potential impact of blockchain and distributed ledger technology on the post-trade industry is huge, and as with all pioneering developments, there is great excitement but also uncertainty.
Notably, the CME Group has recently announced the launch of two bitcoin-based products, with a Bitcoin Reference Rate (BRR) and a bitcoin Real Time Index (RTI) that will see six bitcoin exchanges and trading platforms contribute its data for the endeavor.
CME Group rival ICE (Intercontinental Exchange Inc.) which owns the New York Stock Exchange also revealed that it will soon launch a real-time BTC pricing index, a move that will bring “additional transparency and insight” into the price of bitcoin, according to Dwijen Gandhi, head of indexes at NYSE.
Meanwhile, the PTDL group, whilst not fully revealing its entire list of members, counts the likes of UBS, Societe Generale, Euroclear and the London Stock Exchange as its members.
The media release added:
 The geographically diverse membership includes global banks, custodians, CSDs, clearing houses, exchanges, regulators, government agencies, and central banks.  Further organisations are set to join in the next few months.
Featured image from Shutterstock.

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