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Blockchain and the securities industry: Towards a new ecosystem
Journal of Securities Operations & Custody,
8
(4),
322-329
(2016)
Abstract
Blockchain — also referred to as distributed ledger — is currently one of the most discussed topics in the financial world. It has attracted a lot of interest from banks, exchanges and other players in the securities industry. They are increasingly taking this technology seriously and realising its potential to cause disruption to existing transaction processing. This may bring various benefits in terms of settlement and transaction speed, operational efficiency, transparency and cost reduction. However, a topic that is still under-exposed in the discussion around blockchain is what the future post-trade market infrastructure will look like, as well as the roles of the various players in the securities industry in a blockchain environment.
Keywords: blockchain; disruption; disintermediation; distributed ledger; smart contracts
The full article is available to subscribers to the journal.
Author's Biography
Carlo R. W. De Meijer is an independent financial services advisor. Previously he was Economist and Senior Researcher for Market Engagement at The Royal Bank of Scotland (RBS). He has a master’s degree in International Economics from the University of Tilburg. During his career, Carlo has held various positions, both as a senior economist and as a private investment adviser. He has published many papers on various economic and financial topics, especially related to European financial and monetary integration, international financial markets and infrastructures and upcoming developments.
