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Citi, CME Clearing launch real-time ledger platform

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.