State Street (STT) Announces First Live Trade on Assembly, Leveraging Blockchain Technology and Smart Contracts in Currency Markets

State Street (STT) announced that, alongside Vanguard and Symbiont, it has completed the margin calculation process for a live trade of a 30-day foreign exchange forward contract using "Assembly", which is Symbiont's distributed ledger technology. The firms have been collaborating on innovative blockchain applications to undertake the margin processing for foreign-exchange forwards and swaps and the final goal is to bring post-trade workflow automation and efficiencies while significantly reducing counterparty risk in OTC currency markets.