Digital Exchange Archax uses R3's Corda for post-trade processes

Archax, a London-based digital stock exchange, will use the Corda technology of blockchain software company R3 to manage post-trade activities. Archax CEO Graham Rodford said that the current post-trade process in traditional financial markets involves many middlemen, which makes them extremely inefficient. Rodford said using blockchain technology will make the market more efficient. Buyers and sellers approve transactions, provide transaction details, modify ownership records, and transfer securities and cash. The post-trade process occurs after the transaction is completed, including the buyer and seller of the securities approving the transaction, providing the transaction details, modifying the ownership record, and transferring the securities and cash.