SGX and Temasek Digital Asset Venture Announces Partners

SGX and Temasek Digital Asset Venture Announces Partners

Marketnode, a Singapore Exchange (SGX) and Temasek digital asset joint venture, announced its partnership with Barclays, BNP Paribas, BNY Mellon, Citi, Deutsche Bank, HSBC, Orient Securities International, Standard Chartered, Societe Generale and UOB, ahead of its upcoming product launches focused on digital issuance services, ESG bond data and digital asset depository infrastructure. These components will play a key role in the buildout of an end-to-end DLT-enabled fixed income infrastructure.

Beyond early adoption of Marketnode’s products, these ten partner institutions will work closely with Marketnode to accelerate usage of its platform, provide market input towards its product development, co-create DLT solutions and jointly explore product expansion beyond fixed income.

Marketnode’s fixed income issuer services platform is slated to launch in Q4 2021 and will provide issuers, law firms and banks with products and solutions such as documentation streamlining, investor engagement tools, ESG reporting and market access mechanisms, all powered by data analysis.

In addition to its existing strategic collaboration with Covalent Capital, Marketnode will also be partnering with RootAnt Global, a Singapore-based fintech, and SETL, a UK-based blockchain solution platform to build out its fixed income and multi-asset end-to-end infrastructure.

Since Marketnode’s partnership announcement with Covalent Capital in February this year, both parties have launched integrated offerings such as auto-ISIN generation and digital bond straight-through processing (STP). Marketnode will continue to ideate with partners and the industry to jointly create applications that bring greater efficiency to capital markets.

Lee Beng Hong, Head of Fixed Income, Currencies and Commodities (FICC), SGX, said, “We continue to embrace the paradigm shift that the financial industry is undergoing with the emergence of new technologies. By collaborating with banking and technology partners, we are creating network effects and building scale and capability that can be applied cross-assets within a single platform, for the benefit of banks, issuers and investors. We welcome all market participants to join Marketnode in playing a role to accelerate the digital transformation of capital markets.”

Pradyumna Agrawal, Managing Director, Blockchain@Temasek, added, “The participation of these banks onto the Marketnode platform is a significant milestone. It further validates the market for end-to-end infrastructure, and services for digital assets. Their contributions towards enhancing the platform’s offerings and capabilities will be invaluable. We look forward to welcoming more market participants as increased industry involvement will foster scale, robustness and spur greater capital markets infrastructure innovation.”

Source: SGX

Related articles

  1. With Dmitry Kay, Co-head of EM FX Trading, Europe, UBS

  2. It is the first liquidity-seeking algorithm on Atlas, the equities trading platform introduced in 2019.

  3. Morgan Stanley completed the acquisition of E*TRADE in 2020.

  4. Machines 'Learn' Front Office

    The platform provides a quick way to create and share trusted data through machine learning and automation.

  5. The Federal Reserve said the pilot exercise will be launched in early 2023.