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End to end like Credit Suisse DLT

Credit Suisse DLT trial gets fund transaction all way through

In a trial with a number of custodians and asset servicing providers, the Swiss bank is reported to have processed a debut end-to-end fund transaction on a blockchain platform.

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The transaction was performed at Credit Suisse’s Luxembourg-based fund administration business, reports Global Custodian.

”Will be a game changer”

It was performed between Credit Suisse Asset Management and portuguese Banco Best, using a decentralised blockchain-enabled platform named Funds DLT. Funds DLT is supported by the Luxembourg Stock Exchange.

”Blockchain technology in connection with potential mutualised know-your-client servicing will be a game changer for the investment funds business,” says Claude Metz, head of shareholder services at Credit Suisse Fund Services, quoted by Global Custodian.

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Saved time

The transaction steps on the platform included all parts of the fund trade process – from delivery of the order to the processing of the trade – and were said to reduce the time between the request and the settlement of the fund order.

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