NRI FT India and Digital Asset to deliver DAML Driven applications to Capital Markets
20 May 2019
New York, United States
Kolkata, May 20, 2019 – Nomura Research Institute Financial Technologies India Pvt. Ltd. (NRI FT India), a wholly-owned subsidiary of Nomura Research Institute (NRI), has partnered with Digital Asset to create innovative capital markets applications using DAML, the open source smart contract language created by Digital Asset to synchronize business processes and make transaction workflow more transparent and efficient.
DAML is used to model business processes using smart contracts, capturing the rights and obligations associated with any asset class, business transaction or complex multi-party workflow to drive automation and efficiency. DAML is a core component of a number of Digital Asset projects and proofs of concept, including those with the ASX, HKEX and other market infrastructure providers.
Mr. Maulindu Chatterjee, Head of Global Delivery at NRI FT India said, “Our rich domain expertise in capital markets and years of experience delivering mission-critical solutions has helped us rapidly establish competencies with DAML, a technology we find is getting adopted by major markets in the APAC region such as ASX & HKEX.”
“Importantly,” Chatterjee added, “DAML has significantly enriched our capabilities as we build out complex enterprise workflows for a range of financial products. NRI FT India was able to develop multiple Proof of Concepts with DAML Smart Contracts within a short span of just five months. NRI FT India is looking forward to expanding the work we’re doing with Digital Asset in the Australian, Hong Kong and Japanese markets. Our collaboration with Digital Asset is a major strategic business opportunity for us.”
“We are delighted to partner with NRI FT India - its deep expertise and global delivery capability will help us scale our solutions and meet the rigorous needs of systemically consequential capital market infrastructures and financial institutions in APAC,” said Jon Rout, Business Development Director Asia Pacific for Digital Asset. We look forward to expanding the work we are doing with NRI FT India on significant client engagements and exploring new business opportunities together in the future.”
NRI FT India
News article details
Capital Markets, Wealth Management