Imperium Markets, an ASIC licensed fintech firm, and r3, a leading provider of enterprise technology and services, today announced a new partnership which will deliver for the first time, the full potential of blockchain for Australia’s financial markets.
Imperium Markets has been operating an ASIC-licenced deposit market since 2017 providing banks and investors with a digital experience in dealing directly with each other via a secure, cloud-based platform.
Significant progress has already been made in writing transactions dealt on the Imperium Markets platform to Corda – r3’s next generation blockchain platform – that is purpose built for the financial services industry, delivering privacy, scalability, and security.
With the partnership now formalised, the process of moving the broader market onto blockchain will be accelerated. Starting with the Australian markets, the partnership will also be looking for further opportunities to work together, leveraging r3’s global consortium of partners.
With the use of r3’s purpose-built distributed ledger technology, Imperium Markets can synchronise the pricing, dealing, reporting, registry and settling processes for all market participants to create a faster, cheaper and safer ecosystem for all participants.
The power of the distributed ledger is that it allows the market to take a collaborative approach and share the costs of a “fit for purpose” infrastructure that can automate current manual processes and eventually replace outdated legacy systems.
One of the key priorities that the Imperium Markets and r3 ecosystem can address is cybersecurity and the need to protect the market and the financial system from ever increasing risks from malware and phishing attacks. R3’s Corda platform is specifically designed for practical business usage and includes additional security protocols that make it ideally suited to the heavily regulated and increasingly complex money and capital markets.
Chairman of Imperium Markets, Rod Lewis said Imperium Markets has always taken a holistic view in terms of the transformation of markets from analogue to digital.
“There needs to be a more inclusive approach in providing technology to all participants so that they can access the market. This is why we are so excited with our partnership with r3. The combination of our technologies is an absolute game changer for the Australian financial markets,” he said.
“Everything from a single issuance to a complete end-to-end debt or cash portfolio solution can be executed in a digital environment at a fraction of the cost of maintaining legacy processes and systems. With banks under pressure to rethink their business models, the digital pivot towards blockchain will unlock significant capital for them to invest in innovation and growth, paving the way for the transformation of the entire Australian financial ecosystem.
Finally, the innovation being achieved in other financial markets is available for the wholesale money markets, it will deliver improved financial performance, cyber security and regulatory compliance for participants big and small and make our financial system more secure.”
David E. Rutter, Chief Executive Officer and Founder, r3 said that the global financial markets are undergoing massive changes, and r3 and Imperium Market’s partnership is a critical step forward in shaping the way the money markets and capital markets ecosystems transform.
“With the joint capabilities and expertise of r3 and Imperium Markets, we’re confident this partnership will create a seamless, secure, and collaborative digital environment that will drive greater innovation in Australia’s financial markets ecosystem, strengthening its ability to meet the growing demands of an increasingly digital future,” he said.
“With Corda, Imperium Markets will be able to deliver digital-first solutions underpinned by the unique benefits of enterprise blockchain that include transparency, efficiency, and automation.
About Imperium Markets
Imperium Markets was the first Fintech in Australia to be granted a Tier 2 markets licence by ASIC to generate greater transparency and efficiency, in what historically has been an opaque market, money markets and capital markets.
Imperium Markets was founded by a team of highly experienced money market, fixed income and technology practitioners, all of whom have had extensive day to day experience with the historical analogue process of dealing in financial markets, both as an Issuer or as a Wholesale Investor.
Where other financial market products have transitioned to new technology and a digital experience the money market and fixed income markets remain fragmented, cumbersome and exposed to multiple risk and compliance issues.
The need for the digital transformation of this market is obvious. Imperium Markets is committed to delivering a “fit for the future” ecosystem that will see all market participants able to transact, report, register and settle instantaneously across multiple products. Providing markets with much needed improvements in security, diversification and liquidity.
R3 is a leading provider of enterprise technology and services that enable direct, digital collaboration in regulated industries where trust is critical. Multi-party solutions developed on our platforms harness the “Power of 3”— r3’s trust technology, connected networks and regulated markets expertise—to drive market innovation and improve processes in banking, capital markets, global trade and insurance.
As one of the first companies to deliver both a private, distributed ledger technology (DLT) application platform and confidential computing technology, r3 empowers institutions to realize the full potential of direct digital collaboration. We maintain one of the largest DLT production ecosystems in the world connecting over 400 institutions, including global systems integrators, cloud providers, technology firms, software vendors, corporates, regulators, and financial institutions from the public and private sectors.
For more information, visit www.r3.com/ or connect with us on Twitter and LinkedIn.
Imperium Markets Contact Details:
Chairman Rod Lewis +61 414 996 489 [email protected]
CEO Stu Burns +61 433 661 306 [email protected]
COO Simon Teong +61 421 917 753 [email protected]