DLT now capable of huge US trading volumes – DTCC

October 18, 2018
Chris Wheal

The Depository Trust & Clearing Corporation (DTCC) claims distributed ledger technology is now capable of supporting daily US trading volumes of more than 100m a day. The claims are on the back of a study conducted by Accenture with support from technology service providers Digital Asset (DA) and R3.

DLT can now support more than 6,000 trades per second, claims the DTCC

Clearing and settlement speed surge

The project “proved,” says the DTCC, “that DLT can perform at levels necessary to process an entire trading day’s volume at peak rates, which equates to 115,000,000 daily trades, or 6,300 trades per second for five continuous hours”.

At the moment public blockchains supporting crypto-currencies operate at single or double digit per second performance. DTCC says it commissioned the study and provided expertise and some of the systems infrastructure for Accenture to build prototypes of US equities clearing and settlement system.

DTL now thought to be close to meeting scale demanded by massive US trading volumes

Fresh options and possibilities

“DTCC and Accenture,” says DTCC, “ran DLT performance tests using commercial DLT platforms offered by Digital Asset (DA platform) and R3 (Corda platform), whose engineers provided support on performance tuning. DTCC’s main objective was to analyze DLT’s ability to process the massive trading volumes of the US equities market, not the capabilities of individual commercial platforms.”

Murray Pozmanter, head of Clearing Agency Services at DTCC, says the new research should “create new possibilities for leveraging the technology more broadly across financial markets”.

“As an early adopter of DLT,” he goes on, “we are encouraged by the results of the study because they prove that the technology’s performance can scale to meet the needs of markets of different sizes and maturity.”

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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