The latest DAML-powered apps will link BNP Paribas Securities Services with top international stock exchanges such as Australian Securities Exchange (ASX) and the Hong Kong Exchange (HKEX).
The apps will facilitate market players in the Asia Pacific region with real-time connectivity to ASX’ and HKEX’ forthcoming blockchain powered trading and settlement platforms.
BNP Paribas will particularly link the ASX blockchain based equity trade platform, referred to as the Clearing House Electronic Subregister System (CHESS).
In addition to linking several blockchain powered platforms, the latest DAML apps will also be provided to customers in markets that are yet to incorporate distributed ledger technology.
One among those apps is designed to facilitate smart elections by corporates. The app, anticipated next year, is structured to offer real-time connectivity to all the corporate activities including dividend, repurchase or other investment decisions.
The app is anticipated to minimize processing time span and enhance operational capability in addition to enabling investors to carry out policy-making based on the most appropriate market info.
DAML, an acronym for Digital Asset Modeling Language, was launched in April 2016 and epitomizes a vivid language structured for financial organizations to model and process deals via DLT and smart contracts.
Both ASX and HKEX have become associates of Digital Assets. Last year, the ASX and Digital Asset inked a Memorandum of Understanding stating that the stock exchange will back DAML as portion of its CHESS blockchain registry.
ASX’ CHESS platform is scheduled to be rolled out next year. Back in October 2018, HKEX collaborated with Digital Asset to expedite post-trade procedures and minimize settlement related problems.
The DAML smart contract language sees rising adoption among top international blockchain overtures. Yesterday, China government backed blockchain venture, the Blockchain Services Network (BSN), endorsed its support for DAML as language for building decentralized apps on its ecosystem. Earlier this month, Singapore’s top investment holding firm, Singapore Exchange, disbursed its foremost digital bond using DAML.