Global Trade Distributed Ledger Alliance hires EY as external advisor to provide blockchain expertise

Recently, the Post-Trade Distributed Ledger (PTDL), a global trade distributed ledger alliance, hired Ernst & Young as an external professional consulting consultant to provide professional guidance and technical support for the alliance's blockchain research and practical exploration.

The Post-Trade Distributed Ledger (PTDL) alliance was founded in 2015. To date, its membership has grown to 37. It is composed of large global financial institutions, clearing centers, settlement centers, exchanges and banks. The alliance is committed to researching the use of blockchain and distributed ledger technology to provide innovative post-trade solutions.

The organizing committee of the Post-Trade Distributed Ledger (PTDL) alliance, which includes representatives from CME Group, State Street, HSBC, UniCredit, Eurobank and the London Stock Exchange Group, said:

“Blockchain and distributed ledger technology will have a huge impact on the post-trade industry. However, like any groundbreaking technology, blockchain has great potential but also certain uncertainties.”

The Post-Trade Distributed Ledger (PTDL) alliance has not released a full list of its members, but UBS, Societe Generale, Euroclear and the London Stock Exchange are among its members. In a media release from the Post-Trade Distributed Ledger alliance, the alliance noted its geographically diverse membership, which includes global banks, custodians, clearing houses, exchanges, regulators, government agencies and central banks. More organizations are expected to join in the coming months.

The Post-Trade Distributed Ledger (PTDL) alliance organically links all parties involved in transactions, regulators, central banks and other parties to jointly study how to benefit from blockchain practices. The alliance believes that it is necessary to hire professional consulting firms such as Ernst & Young. The participation of relevant institutions will help coordinate the resources of all parties within the alliance and achieve the goals of blockchain research and practice.