DTCC to rebuild credit default swaps processing platform with blockchain

Post-trade provider the Depository Trust & Clearing Corporation (DTCC) will use blockchain technology this year to rebuild its platform that processes $11 trillion worth of credit default swaps, as Wall Street intensifies efforts to take advantage of the emerging technology. IBM Corp and technology startups Axoni and R3 CEV have been selected to work on the project which is set to kick-off this month, DTCC said on Monday. The project is one of the largest implementations of the nascent techn