Clearinghouse’s Blockchain-Based Settlement System Goes Live

The main clearinghouse for the US stock market has switched on a settlement system built on blockchain, calling it a “milestone achievement” for adopting digital technologies in markets.

Depository Trust & Clearing Corp. said on Monday that its “Project Ion” platform is now processing around 100,000 bilateral equity transactions a day in parallel with its existing settlement systems, which remain the authoritative record. At peak level, the platform can reach about 10% of the bilateral equity volumes handled by the firm’s classic settlement systems.

There is no specific timeline for when and if the Project Ion platform, roughly two years ...