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State Street Digital, Vanguard and Symbiont complete first live trade for forex forward contracts leveraging blockchain tech and smart contracts

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State Street Corporation (NYSE:STT), in collaboration with Vanguard and Symbiont, have jointly completed the margin calculation process for a live trade of a 30-day foreign exchange forward contract through the use of Assembly, Symbiont’s distributed ledger technology. 

State Street Corporation (NYSE:STT), in collaboration with Vanguard and Symbiont, have jointly completed the margin calculation process for a live trade of a 30-day foreign exchange forward contract through the use of Assembly, Symbiont’s distributed ledger technology. 

The firms have been actively exploring the innovative application of blockchain technology to undertake margin processing for foreign-exchange forwards and swaps, with the goal of bringing post trade workflow automation and efficiencies while significantly reducing counterparty credit risk in the over-the-counter currency market.

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