Calypso partners with R3 to develop blockchain trade confirmation system

FinTech | December 1, 2016 By:

Calypso Technology announced its partnership with R3 blockchain consortium in order to develop capital markets application on R3 Corda blockchain platform.

The two firms are currently developing a multi-party trade confirmation solution and testing it with multiple financial institutions. This news comes at a time when R3 needs it most, after it recently lost a few of its member banks including Goldman Sachs and Morgan Stanley.

The platform not only records and manages financial agreements between counterparties but also leverages blockchain technology to ensure a consistent, accurate, auditable, reportable record.

“Calypso is the first capital markets application partner to engage with R3, which reflects the unique synergy between the two firms. We look forward to leveraging our combined expertise to address some of the major pain points facing the global financial services industry with innovative distributed ledger-based technology,” said R3 CEO David Rutter.

“We are thrilled to be working with R3 and honored to be their first application partner. The alignment between the two firms is exceptional – our deep expertise in capital markets combined with their industry-leading distributed ledger technology will allow us to develop a range of innovative applications quickly and efficiently. Our current matching solution is only the beginning,” said Calypso CEO Pascal Xatart.

Calypso Technology is a provider of innovative cross-asset front-to-back technology solutions for complex financial markets.