Capital Markets CRC and Digi.Cash part of a research consortium awarded a $3 million grant in the sixth CRC Projects selection round…
After 20 years of delivering data-driven transformation to global financial markets, the CMCRC-SIRCA Group continues to be recognised as the unrivalled leader in the field. Two companies within the Group (Capital Markets CRC and Digi.Cash) have been awarded a CRC Projects (CRC-P) grant of $3 million dollars.
The project, titled Secondary Trading of Unlisted Financial Securities with pre-settled Smart Contracts, runs for three years from January 1, 2019. The goal is to develop next-generation security and trading technology to increase capital availability and drive innovation.
David Wright, CMCRC-SIRCA Group CEO, said, “We are delighted to have been awarded this grant. Our mission to deliver transformative change as a result of fairer, more efficient and transparent markets continues to drive our work.
“The technology that will be created from this project will deliver market quality by creating a smart-contract-based marketplace that is available to issuers of unlisted securities.
“This will change the existing situation where many financial securities are not listed on exchanges, which leads to high transaction costs.”
As well as CMCRC and digi.cash, the project partners are Haventec Group Services Pty Ltd, Macquarie University, D.T Gilbert & W.R Spain & C.G Condoleon & Others, Marketgrid Systems Pty Ltd, Blackwall Property Funds Limited, anf Helmsec Global Capital Limited.