A global first in decentralized orders
As AI makes inroads into the business, new ways of storing, distributing, and updating information become possible. One important aspect is the decentralization of transaction and fund information, making the system as a whole both more efficient and more secure.
A pioneer in this technology, FundsDLT is an international platform connecting transfer agent (TA) activities, payment systems, and investors. Using distributed ledger technology and smart contracts, FundsDLT aims to dramatically improve efficiency in the fund transaction processing.
In a global first, on December 12, 2018, we successfully completed a fund order via the FundsDLT blockchain. The placement of a transaction, cash reservation at the customer’s bank, confirmation by the trading agent and share and cash booking were processed. Real money was invested in a Green Bond and a regional equity fund managed by Credit Suisse. The participants involved were Banco Best from Portugal, FundsDLT/ Fundsquare of the Luxembourg Stock Exchange, Credit Suisse Luxembourg S.A. as TA, and Credit Suisse Asset Management Zurich as project coordinator.
This successful transaction may well have been one small click for an asset manager, but a giant leap for the asset management industry.