Two central securities depositories team up for first time on distributed ledger project

Rage Comment : National Securities Depository (NSD) is the only central securities depository in Russia. Like South Africa's Strate, the US DTCC, and South Korea's Korea Securities Depository, it is conducting blockchain technology tests in related fields. Recently, NSD and Strate announced a joint development of distributed ledger solutions, becoming the world's first blockchain project cooperation between custodians, and the content of the project is globally cutting-edge.

Translation: Annie_Xu

Two central securities depositories have announced their first collaboration on a distributed ledger project, marking the first such collaboration in the world.

South Africa’s Strate and Russia’s National Securities Depository (NSD) have announced a joint development of a distributed ledger solution, which will first attempt to extend NSD’s past projects to the proxy voting business.

Strate and the NSD said they would share information on blockchain and distributed ledger standardization and regulatory policies.

Eddie Astanin

Eddie Astanin, chairman of the NSD executive committee, said after extensive discussions that he believes distributed ledgers will impact securities settlement and custody businesses.

“I think post-trade services may be the turning point for distributed ledgers and blockchain to move from theory to practice.”

In April this year, the NSD announced that it would use a blockchain prototype for proxy voting testing, marking its global pioneering position in the field of technology.

In addition, the US securities depository agency DTCC and South Korea's Korea Securities Depository have also revealed similar projects.