A key piece of plumbing in conventional markets is getting enhanced in a way that could make it easier for traditional financial firms to trade crypto. LedesmaLyllah reports
Stocks, bonds and other older financial instruments around the globe already use– a way to make it simpler to find and trade them and one of the accouterments Wall Street–types expect when navigating markets. So, the emergence of DTI is a way to make crypto more palatable for TradFi. Meanwhile, FIX is what conveys trades throughout TradFi.
“Adding the DTI standard to the FIX Protocol was an easy decision as the DTI extends the existing functionality to the world of digital assets, which helps the market evolve to work with this asset class,” Jim Kaye, executive director at FIX, said in the press release. “We can see many benefits of adding the DTI, including making it easier for the industry to audit their transactions and increase transparency, thereby bringing more efficiencies to the market.
The press release noted that DTI can be used by regulators to monitor digital trades for anti-money laundering and monitoring risk in trading, too. Over 1,300 DTIs have been issued already, according to the press release. This includes private ledgers and tokenized assets.
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