Sberbank reported on a successful OTC repo transaction on the blockchain with Region brokerage with the participation of the National Settlement Depository (NSD). This was reported by the press service of the bank.
For the calculations, the NSD integrated Security Management System (JMA) integrated into the distributed network was used. Each of the parties to the transaction submitted an instruction to its blockchain network node, the smart contract entered into an agreement and submitted settlement instructions to the SLA.
According to representatives of Sberbank, the parties concluded the world's first trilateral transaction of this kind on the blockchain.
“Within the framework of the pilot transaction, NSD acted not only as a settlement depository, but also provided participants with collateral management services, acted as a supplier of market data used in the calculations of the smart contract, ” said Alina Akchurina, managing director for the development of collateral management systems at NSD.
Earlier, Sberbank concluded an OTC repo transaction on the blockchain with Interros.
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