The Digital Settlement House will support a broad network of members across multiple commercial banks and currencies.
The London Stock Exchange Group (LSEG) announced the launch of a new digital settlement service, Digital Settlement House (LSEG DiSH), which is an open-access platform thatenables programmatic and instantaneous settlement between independent payment networks.
Through commercial bank deposits held on the DiSH ledger (DiSH Cash), the service will enable the 24/7 instantaneous movement of commercial bank money in multiple currencies and jurisdictions, PVP and DVP, providing a real cash leg for FX and digital asset transactions and settlements.
With the Digital Settlement House, users can conduct PvP or DvP and settlements using any asset, orchestrating payments on any connected network. LSEG DiSH can also facilitate settlement on its own ledger or act as a notary to facilitate settlement in other networks and assets.
The service will allow users to optimise liquidity through new tools that enable intraday borrowing and lending to better manage assets and obligations, while also enabling users to reduce settlement risk through reduced settlement timelines.
The launch follows a successful Proof of Concept (PoC) in collaboration with Digital Asset and other leading financial institutions to complete transactions on the Canton Network. LSEG DiSH will operate through LSEG’s Post Trade Solutions business, utilising a trusted rulebook framework and account structure.
Daniel Maguire, Group Head, LSEG Markets and CEO, LCH Group, said: “LSEG DiSH expands the tokenised cash and cash-like solutions available to the market, and for the first time, offers a real cash solution tokenised on the blockchain utilising cash in multiple currencies held at commercial banks. This innovative service will enable users to reduce settlement risk, and integrate existing cash, securities and digital assets across new and existing market infrastructure.”
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