Citi and CME Clearing adopt blockchain for collateral management processes
Blockchain-powered platform implemented to reduce costs of back office functions and speed up margin funding times.
December 18, 2017 7:07 AM GMT
Citi and CME Clearing have teamed up with Baton Systems to implement a blockchain-based platform as the firms look to reduce costs of back-office functions.
The platform allows banks to view their collateral in their ledgers in real-time and send cash or securities to clearing houses with one-click.
Citi and CME Clearing explained the blockchain software could significantly reduce costs of back-office operations and speed up margin funding times.
Traditionally banks have had to set aside capital as they wait for collateral to be settled, but the platform could see billions of dollars of capital freed up at major institutions.
Barry Stephen Marx: Deputies searching for missing, possibly endangered man near Lake Worth April 7, 2021 at 4:56 PM EDT - Updated April 7 at 4:56 PM
Palm Beach County Sheriff s Office deputies are searching for a missing and possibly endangered man they say suffers from dementia.
Barry Stephen Marx, 73, was last seen on Tuesday, April 6, leaving his residence located in the 8000 block of South Jog Road in unincorporated Lake Worth.
Deputies said Marx was driving a 2020 white Nissan Altima with Florida tag LHLJ06 and has not been seen or heard from since.
Marx was last seen wearing a black t-shirt with “Memphis” and guitars written on it, black shorts, and black shoes. He needs his black and red walker to walk.