SEB and Nasdaq to Build Blockchain for Swedish Mutual Fund Market
STOCKHOLM, Sweden, Sept. 27, 2017 (GLOBE NEWSWIRE) -- SEB, the Nordic financial services group, and Nasdaq, Inc. (Nasdaq:NDAQ) have announced a joint project to test a developed prototype for a mutual fund trading platform based on blockchain technology. The aim is to increase efficiency in the processing of purchases and sales of fund units and to create a unit ledger - an area which today is largely characterized by manual routines, long settlement cycles and paper driven processes.
"With the help of a blockchain we can create a faster, simpler, more effective and reliable fund market," said Göran Fors, acting head of Investor Services at SEB. "Funds are increasingly important for our clients and it is with great pleasure that we can announce this important project together with Nasdaq."
"By leveraging blockchain technology there is strong potential for improvement via digitalization that can reduce manual work, create a faster process and reduce the risk for errors," said Magnus Haglind, SVP & Head of Product Management, Market Technology, Nasdaq. "This development will look to benefit the fund market and, in the end, also the individual investors through faster response from purchases and sales."
The concept of the project indicates that, by subscribing to a private blockchain, the various market participants-fund companies, distributors and others-will be able to share a distributed database in which all transactions and changes are registered among all participants in real-time. The cooperation agreement entails that SEB and Nasdaq will continue to develop the technology with the end goal of creating a working prototype, which will be based on the Chain.com blockchain ledger. In addition, the two parties have opened a channel for collaboration with additional interested parties on building a uniformed market infrastructure for Sweden's fund market.
In contrast to the equities market, which relies on a Central Securities Depository (CSD), the Swedish fund market lacks a central, primary point for registering holdings. This means that the administration of purchases and sales of fund units are handled through an intermediary or directly with each executing party. Since a chain can consist of many links - for example, when a customer via a Swedish bank buys units in a foreign fund company - a relatively large administrative process arises. This is handled today through a combination of different technical solutions, including orders placed by paper driven processes and follow-up phone calls.
Nasdaq's market infrastructure technologies, including trading, real-time risk, index, clearing, CSD and market surveillance systems are operated in more than 100 marketplaces, regulators, clearinghouses and central securities depositories across the Americas, Europe, Asia, Australia, Africa, the Middle East and the Caribbean.
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to 3,800 total listings with a market value of $11 trillion. To learn more, visit: http://business.nasdaq.com
SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. At 30 June 2017, the Group's total assets amounted to SEK 2,777 billion while its assets under management totaled SEK 1,835 billion. The Group has around 15,000 employees. Read more about SEB at www.sebgroup.com
For Media Inquiries:
Ryan Wells (International Media)
Mobile: +44 (0) 7809 596 390
Ulrika Andersson (Swedish Media)
David Augustsson (Swedish Media)
Frank Hojem, Head of Media Relations
- NDAQG -
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nasdaq via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
The Navigators Group, Inc. Announces Expiration of Hart-Scott-Rodino Waiting Period for Proposed Merger19.10.2018 22:01 | Pressemelding
STAMFORD, Conn., Oct. 19, 2018 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) (“Navigators” or the “Company”) announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), in connection with its previously announced merger with a direct wholly owned subsidiary (“Merger Sub”) of The Hartford Financial Services Group, Inc. (“The Hartford”), expired at 11:59 p.m. Eastern Time on October 18, 2018. The expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the merger, which remains subject to other closing conditions in the Agreement and Plan of Merger, dated as of August 22, 2018, by and among the Company, The Hartford and Merger Sub. About Navigators The Navigators Group, Inc. (NASDAQ: NAVG) (“Navigators” or the “Company”) is a global specialty insurance holding company. We provide customized insurance solutions designed to protect clients from the complex risk
ATTO Technology introduces the XstreamCORE® FC 7600 32Gb Fibre Channel to 12Gb SAS Hardware Accelerated Storage Controller19.10.2018 15:00 | Pressemelding
AMHERST, N.Y., Oct. 19, 2018 (GLOBE NEWSWIRE) -- ATTO Technology, Inc., a global leader of storage, network connectivity and infrastructure solutions for data-intensive computing environments for 30 years, announces availability of the ATTO XstreamCORE® FC 7600 storage controller. ATTO XstreamCORE FC 7600 is a standalone, accelerated storage controller that connects any external SAS device, such as a JBOD of HDDs or SSDs, a RAID array or external tape devices, and presents them isolated to individual hosts or shared over a Fibre Channel SAN fabric. It includes ATTO exclusive technologies, ATTO xCORE hardware acceleration processor and ATTO intelligent Bridging Architecture™, that combine to keep latency astonishingly low at three microseconds. For less than the price of a performance server, XstreamCORE FC 7600 enables up to 64 Fibre Channel connected clients to remotely access and share up to 240 SAS/SATA SSD or HDD devices via JBOD or JBOF at direct attached speeds with consistent, d
Biome Grow Introduces PEI Brand, Red Sands Craft Cannabis Co.19.10.2018 13:30 | Pressemelding
TORONTO, Oct. 19, 2018 (GLOBE NEWSWIRE) -- Biome Grow Inc. (“Biome” or the “Company”) (CSE:BIO) (FSE:6OTA) is pleased to introduce its fifth subsidiary company and brand, Red Sands Craft Cannabis Co. (“Red Sands”). Red Sands is located in Prince Edward Island (PEI) and will service both the local and tourist markets in that province with locally produced and regionally grown cannabis products. The Red Sands Craft Cannabis Co. brand reflects PEI’s iconic red sand beaches and the craft goods and services that are produced locally. Visually, it balances the vibrant, energetic colours with the calm nature that PEI is known for, setting the stage for the tailored cannabis products that Red Sands will offer. Though the smallest Canadian province both in terms of land area and population, with approximately 153,000 residents living on the Island, the province has a robust tourism industry. In 2017, the province set records with more than 1,000,000 overnight stays, by an estimated 1.56 million
CORRECTION - Elite Petro & Gas broadens financial services and signs a deal with Tabarak Investment Capital Limited18.10.2018 23:35 | Pressemelding
DUBAI, United Arab Emirates, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Today the President of Elite Petro & Gas, Mr. George Matharu and the President of Tabarak Investment Capital Limited (Investment Bank), Dr. Mohamed Ahmadi announced a deal in which the two companies will use their combined resources to execute physical commodity trades, and provide banking and finance facilities for oil and gas transactions. The alliance between the two entities will also allow compliance related activities to be carried out from two major international hubs of London and Dubai. This increases the international presence of both companies. Additionally, Elite Petro & Gas (“EPG”) has recently formed relationships with the owners of a number of high profile European, South American and Chinese projects, which EPG and Tabarak can work on together. Tabarak Investment Capital Limited is a regulated investment bank by Dubai Financial Services Authority and incorporated in the Dubai International Financial Centre.
Partnership Between Zaiput Flow Technologies and ThalesNano Set to Improve Process Intensification18.10.2018 15:21 | Pressemelding
BUDAPEST, Hungary and WALTHAM, Mass., Oct. 18, 2018 (GLOBE NEWSWIRE) -- Zaiput Flow Technologies, a global leader in separation, and ThalesNano, the world leader in bench-top flow chemistry reactors, recently signed a distribution agreement and entered into a technology partnership that exploits the benefits of their combined technologies. Under the distribution Zaiput liquid-liquid phase separators and back pressure regulators are available via ThalesNano in Europe and a number of other countries on a non-exclusive basis, either separately or as part of a bundled offering with ThalesNano’s own microflow reactors. Within the framework of the technology partnership the companies will collaborate to promote adoption of the combined use of their technologies. “We are very excited to work with ThalesNano to offer better-integrated flow chemistry systems to our customers and streamline the work of both novice and experienced users in the flow chemistry space,” said Zaiput CEO, Dr. Andrea Ad
Abeona Therapeutics Appoints João Siffert, M.D. Head of Research and Development and Chief Medical Officer18.10.2018 14:03 | Pressemelding
NEW YORK and CLEVELAND, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (Nasdaq: ABEO), a leading clinical-stage biopharmaceutical company focused on developing novel cell and gene therapies for life-threatening rare genetic diseases, today announced the appointment of João Siffert, M.D. as Head of Research and Development and Chief Medical Officer. As a result, former Chief Medical Officer Juan Ruiz, M.D., Ph.D. will assume the role of Head of European Medical Affairs. The Company also announced the appointment of Neena Patil, J.D. as General Counsel and Corporate Secretary. Both Dr. Siffert and Ms. Patil report to Chief Executive Officer, Carsten Thiel, Ph.D. “I am very pleased to welcome João and Neena to Abeona, and confident in their abilities to make important contributions to the future growth of our company,” said Dr. Thiel. “João has an ideal blend of clinical, scientific, and regulatory experience to reference as we look to advance our clinical and pre-clinical can
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom