Financial data and infrastructure provider London Stock Exchange Group—commonly known as LSEG—has rolled out a new blockchain-powered platform for private funds, as per an official press release by the company.
Dubbed the Digital Market Infrastructure platform, the statement says it is powered by Microsoft Azure, and, probably as a show of functionality, LSEG carried out the platform’s first transaction.
Headquartered in the United Kingdom, LSEG says it has a global presence with operations in 65 countries, managing 26,000 employees.
The new integration is expected to handle activity across the entire asset lifecycle including initial stage of issuance, tokenization, distribution, post-trade settlement and other relevant procedures.
“There are many processes in private markets today that can be improved. At LSEG, we are committed to significantly improving access to private markets by streamlining workflows, enhancing distribution, and enabling liquidity,” said Head of Digital Markets Infrastructure Dr. Darko Hajdukovic.
“We intend to do this by continually working with all stakeholders to enhance efficiencies and connectivity for both digitally-native and traditional assets.” He also said.
“Microsoft’s collaboration with LSEG on its Digital Markets Infrastructure (DMI) is a powerful example of the innovation driving our strategic partnership. Together, we’re reshaping the future of global finance to empower our customers to unlock new opportunities and drive meaningful change,” said Microsoft Corporate Vice President Bill Borden (Worldwide Financial Services).
Source: Google Finance
At the time of reporting, LSEG shares were priced at 8694 GBX (86.9 GBP), up by 0.72%.