Citigroup Inc. and CME Clearing launched a real-time distributed ledger platform that would cut margin funding costs.
The platform, developed by payments technology provider Baton Systems, allows a bank to check the collateral in its ledgers in real time, send cash or securities to a clearing house with one click and quickly receive acknowledgment.
CME Clearing is the clearinghouse division of Chicago Mercantile Exchange, which is part of CME Group Inc.
