LedgerEdge Selects Yaala Labs As Technology Partner02.01.2021
LedgerEdge, the next-generation ecosystem for corporate bond trading, announces it has selected Yaala Labs, a provider of cloud-native capital markets infrastructure, to support its technology delivery. The partnership will enable LedgerEdge to launch a global corporate bond trading venue built on distributed ledger technology, expected in the second half of 2021.
LedgerEdge was founded in 2020 to create a new ecosystem where participants can trade with conviction and clarity, addressing the core liquidity problem in the $41 trillion corporate bond market.
— LedgerEdge (@_LedgerEdge_) February 1, 2021
Yaala Labs, founded by the team who previously led London Stock Exchange Group’s capital markets infrastructure technology business, is uniquely placed to deliver on a cloud-native, blockchain-enabled, agile solution for the future of the corporate bond market.
The partnership will deliver an institutional grade, cutting edge and scalable digital ledger technology solution that aims to unlock liquidity in the corporate bond market. The solution includes a distributed order book and smart search functionality, which will enable users to conditionally see and share liquidity and will support a fundamentally better trading experience.
LedgerEdge’s distributed order book will be supported by Corda Enterprise, a distributed ledger technology platform that enables businesses to transact directly and in strict privacy with one another using smart contracts. Yaala Labs will create a tailor-made solution for LedgerEdge using both Corda Enterprise and P8, its cloud-native and blockchain-enabled exchange platform.
Commenting on the news, David Nicol, CEO of LedgerEdge said: “As LedgerEdge moves toward our launch this year, we are excited to announce our technology partner in Yaala Labs. They have extensive, highly relevant experience in the capital markets designing and building enterprise grade software for trading platforms. The entire team at Yaala Labs has demonstrated their fundamental understanding of our needs as well as the agility and technological know-how for developing DLT architecture for the corporate bond market. We look forward to continuing our work with Yaala Labs as we build and deploy a next-generation ecosystem for corporate bond trading.”
Lalin Dias, CEO of Yaala Labs added, “We are excited to be supporting this innovative project with our market infrastructure technology platform P8. We founded Yaala Labs to build the next generation of capital markets infrastructure and help markets take advantage of cloud, blockchain and machine learning technologies. We look forward to working with the great team at LedgerEdge to launch and grow this visionary new ecosystem for the corporate bond market.”
The acquisition was announced on 4 May 2022.
Market conditions have been unfavourable for primary issuance.
European trading in fixed income instruments is highly fragmented and non-transparent.
Credit markets are on the cusp of a digital transformation that has come to other asset classes.
LuxSE and UN Women will work to promote sustainable debt advancing gender equality and women’s empowerment.