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Vanguard eyes DLT for FX forwards after smart contract success

Fund giant hopes roll-out of tech in 2022 will deliver greater efficiency and pricing benefits

Smart-contracts
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Vanguard is planning to roll out distributed ledger technology (DLT) across its range of funds that utilise foreign exchange forwards throughout 2022, following a successful pilot of using smart contracts to margin a live trade at the end of last year.

The asset management giant’s fintech unit partnered with custody bank State Street and DLT provider Symbiont to test the margin calculation for a live 30-day euro/US dollar FX forward trade on a platform called Assembly in December, with the aim

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