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European blockchain-based post-trade settlement infrastructure for SMEs ‘LiquidShare’ enters pilot phase

Mon, 17 Dec 2018, 12:10 pm UTC

LiquidShare, a European blockchain fintech venture, has announced that it has entered into a pilot phase, Finextra reported.

Launched in July 2017, LiquidShare is an independent start-up backed by major European Institutions – BNP Paribas, CACEIS, Caisse des Dépôts, Euroclear, Euronext, S2iEM and Société Générale – with the aim of developing a European post-trading blockchain infrastructure for the Small and Medium Enterprises (SMEs) market.

After six intense months of work and collaboration, LiquidShare has now entered into a pilot phase with 15 market participants trading over Euronext.

Built on Ethereum, LiquidShare is a private permissioned platform with “the core business logic coded in discrete cash, security and delivery versus payment smart contracts.”

During the pilot phase, LiquidShare will connect to asset managers’, broker-dealers’ and custodians’ information systems, making it easy for them to invest in and process listed and non-listed European SMEs.

LeapRate reported how the system works:

  • “The system receives orders and ensures that the necessary cash and securities are reserved in LiquidShare’s smart contract system.
  • Orders are transmitted to Euronext’s Optiq trading platform.
  • After matching, Euronext sends the execution to LiquidShare for near real-time settlement.
  • All parties, including SMEs, are immediately notified, ensuring transparency for the end users of the infrastructure.”

"The delivery of LiquidShare Platform is the result of the efforts of the Pilot Participants and is the first milestone to become the first industrial blockchain in production, processing hundreds of transactions per day in a regulated environment,” Thibaud de Maintenant, CEO of LiquidShare, said.

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