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[ I N - D E P T H highly robust and cost-efficient, says Peve. Indeed, the application of blockchain technology to clear- ing and settlement will need to ma- ture in order to meet the requisite volume demands and efficiencies delivered by the current model, she adds. EuroCCP’s Chan agrees and says B L O C K C H A I N ] mental and will apply to bits and pieces of post-trade processing starting “two-plus years from now” taking at least five years and more to be ubiquitous. “The [DTCC] TIW project aims for automated re- cord keeping, lifecycle events, and payment manage- ment for more than $11 trillion of cleared and bilateral credit derivatives,” says Kandula. “It will be a stretch to imagine that the entire post-trade lifecycle would be using blockchain technology, but, it will be an evolu- ASX commits to implement DLT for the purpose of replacing CHESS Software testing to com- mence from the second quarter of 2019 December 2017 2019 there is a long way to go before blockchain becomes universally adopted in the clearing and settle- ment world. “It is not likely to become the go-to solution for clearing and set- tlement in the foreseeable future,” she says. ASX’s trailblazing venture—and indeed DTCC’s when it is complet- ed—appears to be more relevant to help larger clearing intermediaries looking to streamline post-trade processing right now, if not all the way to settlement. Kandula says that progress is likely to be inc