BNP Paribas, Digital Asset, Roll Out DLT Apps

BNP Paribas Securities Services has announced a new partnership with Digital Asset to design a number of real-time trade and settlement apps using DAML smart contracts.

The new apps will provide market participants in Asia Pacific with real-time access to the Australian Securities Exchange (ASX) and Hong Kong Exchange (HKEX)’s anticipated DLT -based trading and settlement platforms. The apps will also be available to clients in markets that have not integrated DLT, bringing them the benefit of real-time workflows.

The first solution, due in 2021, is a smart elections service for corporate actions. Thanks to the use of DAML smart contracts, all parties in the corporate action chain will receive corporate action information such as dividend reinvestment or purchase offer decisions at the same time, reducing processing time, improving operational efficiency and enabling investors to finalise their decisions on the most current information on market factors.

Luc Renard, head of financial intermediaries client line & digital transformation, APAC, for BNP Paribas Securities Services, says, “We are excited to lay the foundations of our direct connectivity to the ASX’s next-generation solution and the future phase of HKEX’s platform with our first DAML-based solutions. We believe that DAML has the potential to emerge as a new standard for international capital markets.”

Colin Lambert

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