PTDL Group teams up with GBBC

The UK-based Post-Trade Distributed Ledger (PTDL) Group is merging with the Global Blockchain Business Council (GBBC). It says that, under the GBBC’s direction, it will be able to increase the level of interaction and activity between its 40+ institutions, engage in thought leadership and regulatory engagement, and further grow its membership base.

Sandra Ro, CEO of the GBBC, says: “We are delighted to be working with PTDL so closely. We are both committed to promoting the advantages of blockchain, and financial services is among those sectors that are set to benefit the most. The membership of PTDL includes some of the brightest minds in the post-trade sector, and we will look to capitalise on this to show even greater insight and thought leadership on how blockchain can revolutionise this marketplace, whilst encouraging collaboration across sellside, buyside, and regulators.”

Advancing PTDL’s efforts

The PTDL Group’s organising committee is made up of representatives from CLS Bank International, HSBC, Janus Henderson, London Stock Exchange Group, State Street and GBBC.

“The regulatory landscape around DLT is nascent, but rapidly evolving. Proactive collaboration amongst a broad range of market participants, as well as regulatory agencies and standard-setting bodies, is key to avoid further perpetuating inefficiencies and fragmentation in the post-trade market,” says Kerry Denerstein, Regulatory Affairs Lead at CLS Bank International.

“This new leadership of PTDL comes at a key stage in the industry’s move to adopt DLT.  I was pleased to have been a founding member of PTDL when we first got started.  What is true now is the opportunity for DLT in post-trade is even greater than when we first envisaged,” adds Jason Nabi, Global Head of Innovation, HSBC Securities Services.

“PTDL brings together a diverse set of financial market participants to discuss, collaborate and progress adoption of DLT.  While DLT focuses on decentralisation, in order to achieve successful adoption across the industry, we need firms across the trade lifecycle to collaborate on innovations.  We look forward to advancing PTDL’s efforts and professional network by working with the GBBC,” says Michael Coletta, Lead Blockchain Architect, London Stock Exchange Group.