GFT, a provider of business, IT and software services to the financial services community, reports that Digital Asset’s blockchain platform can process upwards of 27,000 trades per second for a sustained period of time.
This exceeds the peak US equity trading volumes, according to a January whitepaper by DTCC (Modernizing the U.S. Equity Markets Post-Trade Infrastructure).
Its analysis provides further evidence that barriers to the adoption of DLT in the enterprise can be alleviated, GFT claims.
To ensure objectivity, Digital Asset, which is fronted by former JPMorgan Chase & Co. executive, Blythe Masters, provided GFT with access to its platform’s code base and a production-like environment to simulate a typical trade day for a cash equities market and a real-time market simulation based on historical data.
A series of test scripts were then run to verify the throughput was capable of supporting 27,000 trades per second, which equates to approximately 81,000 DLT transaction updates per second.
Masters comments: “The performance test demonstrates the throughput capacity of the DA platform can meet the demands of major markets. We are delighted that GFT’s findings have validated that the highest standards of integrity and privacy do not sacrifice performance. We are very optimistic about what this outcome will mean for the industry at large.”
David Collins, Head of GFT’s Atlantic region, adds: “Our goal is to continually drive innovation throughout the financial services sector and DLT is a key part of this strategy. We believe the rigour of the test scenario’s construction and in the level of performance achieved demonstrates the DA platform can handle peak trade volumes seen in US equities markets and scale to satisfy the performance requirements of large-scale financial institutions.”
“The results of our performance tests will generate new opportunities for our respective firms and we look forward to working closely with Digital Asset to accelerate the adoption of what we believe is a completely transformative capability for the business,” he concludes.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.