UBS introduces smart contracts for structured products
Swiss bank aims to tackle shrinking margins by automating workflows and cutting trade processing costs
UBS is spearheading the use of smart contracts for some Asian structured products to reduce manual inputs required for trades, which it believes will save costs and boost profit margins.
The Swiss bank is using Digital Asset Modeling Language (DAML) – the smart contract language created by blockchain technology firm Digital Asset – for the initiative and is testing the concept with two large clients in Asia-Pacific, says Vikesh Kotecha, head of equity derivatives for the region at UBS. When
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