Hackathon finds pre-trade gold in Isda’s post-trade project
Dealers’ derivatives trade processing costs could be cut by at least $3 billion per year
They came to Barclays’ offices from around the world – 30 teams of software engineers competing in a hackathon to save money for derivatives dealers. The shared starting point was the latest version of a new industry approach to the way trades and lifecycle events are classified, but each team then had to take it further – to find new uses.
And they did – promising interoperability between competing blockchains and front-office applications that spin an earlier post-trade focus on its head.
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