Calypso and R3 test blockchain-based price-matching service
Calypso Technology has integrated its cloud application with the R3 consortium's Corda blockchain platform to provide price-matching services to five banks and finance houses. Westpac Banking Corporation in Sydney, ING in Amsterdam, BBVA in Madrid, Banco de Credito del Peru in Lima and an investment management firm in the US participated in real-time trade-matching tests across four time zones using the structure. The test has proved that the Corda platform is capable of meeting bank requirements in key areas, such as identity, privacy, security and scalability, according to Todd McDonald, co-founder of R3. 
Calypso Technology has teamed up with blockchain consortium R3 to provide five financial institutions with trade matching services.

The service integrates Calypso’s cloud application and R3’s blockchain powered Corda platform to carry out real-time trade matching tests across four time zones.

Westpac Banking Corporation in Sydney, ING in Amsterdam, BBVA in Madrid, Banco de Credito del Peru in Lima and a large investment management firm in US all participated in the project.

The institutions used a node on the Corda platform to enter FX trades to validate and confirm matching in real-time, Calypso said.

Todd McDonald, co-founder at R3, explained the test “is a perfect example of its ability to meet banking requirements in areas such as identity, privacy, security and scalability.”

Victor Gamero, an FX trader at Banco de Credito del Peru, added: “Beyond the obvious gain that this new matching methodology provides, we were very impressed by the mitigation of operational risks.”