Cryptocurrencies
BlackRock Joins Blockchain Platform Axoni for Equity Swap Trades
- Axoni’s Veris network will reconcile post-trade data on swaps
- BlackRock sees ‘great potential’ in platform for derivatives
Photographer: Jeenah Moon/Bloomberg
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BlackRock Inc. is embracing blockchain technology to make it easier to handle complex equity derivatives.
The world’s largest money manager joined Goldman Sachs Group Inc. and Citigroup Inc. on a distributed-ledger system called Veris, according to a statement Tuesday from Axoni, the financial-technology company that operates the platform. The network is designed to help firms match and reconcile post-trade data on stock swaps.