The back-office infrastructure of the United States securities market is moving towards a longer period of operation. DTCC announced that NSCC, the national securities clearing company of the United States, had officially launched a 24x5 clearing service to provide support for United States stock trading close to 24/7.
Multiple platforms to support access
This change is not focused on the front desk of the transaction, but on the processing chain after the transaction. Once the transaction has been completed, it will still need to be brokered for confirmation, liquidation and risk management before it can be finally delivered. If the back-office system is not able to simultaneously extend the running time, the longer period of the transaction is subject to processing congestion.
DTCC states that this arrangement has been supported by many market institutions, including Nasdaq, Cboe, MEMX, OTC Markets, Instinet, Apex Fintech, Blue Ocean Technologies and Bruce Markets.
Ripple Prime becomes a direct member
Another development of interest comes from Ripple Prime. Former Hidden Road, changed name after Ripple's acquisition. According to the article, Ripple Prime is now a direct member of NSCC and thus has access to the securities clearing network at the heart of Wall Street.
This means that Ripple Prime's link between traditional finance and block chains is further deepened. According to reports, the Agency has used XRP Ledger to support off-site trading and capital market services in an attempt to integrate chain infrastructure with existing financial processes.
Direct settlement not currently related to XRP
DTCC does not indicate that the NSCC liquidation process is settled using XRP Ledger or XRP. At this stage, the more immediate change is that the sector chain-related institutions are beginning to enter the traditional core financial infrastructure, rather than staying on the periphery.
In terms of industry trends, 24x5 liquidation go-lives and Ripple Prime membership show that the traditional financial system is gradually extending its operating time and absorbs the institutional service capacity of the digital asset industry. For the market, such adaptations are more like upgrading of existing systems than a direct replacement for old ones.