Archax – a securities exchange headquartered in London – will reportedly be utilizing the Corda tool – a tech designed by blockchain-based software company R3 – to supervise post-trade activities.

Specifically on October 18, Archax revealed that it will be using distributed ledger technology (DLT) as a solution to manage post-trade processes. The firm will be incorporating a Corda Enterprise private version into its existing network. 

Graham Rodford – head of Archax – claimed that the existing post-trade activities of financial markets still primarily rely on numerous intermediaries, consequently reducing their efficiencies. Rodford believed a blockchain-based tool will be the solution to a more efficient process. 

Post-trade processes will happen once a trading activity is finalized – meaning the purchase of a security token is acknowledged and authorized by both parties involved (seller-buyer). The seller and buyer will also need to provide trade information, change ownership records, and transfer the securities and cash. 

Recently, numerous financial establishment globally has begun lean towards Corda tech. The Ivno Global Tokenized Collateral Trial – the first-ever worldwide token trial based on the R3 Corda platform – has witnessed the participation of 28 organizations including Raiffeisen and 17 other banks.