Banks test promise of blockchain as CCP replacement

Could the technology behind bitcoin disrupt the clearing business?

Luke Clancy and Steve Marlin
22 Dec 2015

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Disruptive technologies are upsetting apple carts everywhere. Taxi drivers grumble about Uber undercutting fares, while Airbnb has done a number on the hotel industry.

Could the clearing business also be in line for disruption?

"You can imagine a world where you don't need clearing houses, at least not in the same role," says a prime brokerage executive at a European bank in London.

That is an important qualifier. The belief among many market participants is that distributed ledgers – the

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