Large Market Infrastructure Company

  • Company name:
    Classified
  • Industry:
    Financial Services
  • Location:
    Chicago, IL
  • Company Size:
    5k+

Mission:

A federal regulated organization tasked our team to build and run a DLT based approach for bi-lateral netting of exotic currencies.

Challenge:

FX transactions use legacy systems that are slow, costly, and incompatible. This often leads to loads of manual labor trying to complete the trade settlement process.

Solution:

  • Work with the client on the architecture of the application and its deployment on Hyperledger Fabric written in DAML
  • Grow the DevOps culture by building on the integration testing, the set up of the infrastructure and the overall operation of the application using AWS, Microsoft Azure, and Angular for the UI
  • Connect participants directly to the platform via a highly secure, permissions ledger or via Swift

Results:

  • Participants can now submit FX transactions for a number of different products across a variety of currencies
  • Reduced settlement costs, increased market liquidity, and added an additional layer of security
  • This was the first major financial markets infrastructure production deployment of DLT technology globally