SINGAPORE – The Singapore Monetary Authority (MAS) and the Singapore Stock Exchange (SGX) have developed Double versus Payment (DVP) delivery options to settle tokenised assets on various block platforms.
"It will help simplify post-trade processes and further shorten clearing cycles," MAS and SGX said on Saturday (November 10th).
DVP is a method of settlement where securities and money are exchanged simultaneously, so the delivery of securities takes place only when the payment is made.
Together with technology partners Anquan, Deloitte and Nasdaq have developed DvP prototypes that financial institutions and corporate investors are capable of exchanging and finalizing tokenised digital currencies and securities assets simultaneously on different platform platforms.
MAS and SGX have jointly released an industry report detailing the automation of DVP settlement processes through Smart Contracts. Intelligent contracts are contractual agreements where terms are encoded into software and are executed when certain conditions are met.
Singapore's third-ever FinTech Singapore Film Festival starts in Singapore on Monday, with more than 250 speakers, 450 exhibitors and nearly 40,000 participants. That would make it the biggest event of FinTech worldwide, emphasized by the LAG, the Bank of Singapore Association and SingEx Holdings in a separate issue.
The five-day festival will open a three-day FinTech conference to discuss the latest events and opportunities, such as entrepreneurs, investors, regulators, technology leaders and experts.
Other key features of the festival include the FinTech exhibition, which will showcase innovative solutions from 450 exhibitors, the Global Investment Summit, which focuses on the investment and business communities, Artificial Intelligence (AI) at a financial summit to examine AI and data topics to help the future of financial services and the digital economy, and Hackelerator FinTech's Global Demonstration Day, which will include 20 FinTech solutions on the market to address existing issues in the industry.
In addition, 30 laboratories around the world will be open for visits to the Innovations Lab Crawl lab.