London Stock Exchange Group (LSEG), a leading global financial markets infrastructure and data provider, has unveiled a new settlement platform that allows banks and other market participants to move money and complete trades in real time across both traditional payment rails and blockchain-based systems.
New Hub for Instant Cash Settlement
The service, called Digital Settlement House (LSEG DiSH), is designed as an open network that links independent payment and asset platforms, whether on-chain or off. At its core lies a ledger-based cash solution known as DiSH Cash, which records commercial bank deposits held at participating institutions and allows them to be transferred instantly, at any time of day, in multiple currencies and jurisdictions.
Using DiSH, clients will be able to arrange payment-versus-payment (PvP) and delivery-versus-payment (DvP) transactions in a range of assets while routing the transfer over any connected network. The platform is intended to give members immediate, ledger-based ownership of deposits held across the banks in the DiSH network and to provide a round-the-clock mechanism for moving funds.
LSEG says the platform is aimed at making better use of cash, securities, and digital assets that currently sit idle in different parts of the financial system. By reducing the time it takes to settle transactions, aligning payments, and increasing access to collateral, the group believes users will reduce settlement risk and manage their cash flow better throughout the day.
Tested on Canton Network, Deployed via Post-trade Business
The launch builds on a proof-of-concept LSEG conducted with technology firm Digital Asset and a group of large financial institutions on the Canton Network. In that trial, deposits held at major commercial banks were recorded on the DiSH ledger and then represented on Canton as tokenized cash, allowing participants to use them as the cash side of transactions involving several asset classes and currencies.
LSEG DiSH will sit within the company’s Post Trade Solutions business and use a shared rulebook and account structure across its member base, which is intended to span multiple banks and currencies.
Daniel Maguire, group head of LSEG Markets and chief executive of LCH Group, said the service broadens the range of tokenized cash-style solutions available on the market and, for the first time, offers a blockchain-based mechanism built on commercial bank balances in several currencies.
“This innovative service will enable users to reduce settlement risk and integrate existing cash, securities, and digital assets across new and existing market infrastructure. We look forward to developing this service in partnership with the market,” he added.
DMI Platform Marks First Step in LSEG’s blockchain push
This update comes a few months after LSEG rolled out its Digital Markets Infrastructure (DMI) platform in September.
Built on Microsoft Azure, the DMI platform leverages blockchain technology to simplify the issuance, tokenization, and settlement of private funds across various asset classes. It is designed to sit alongside existing market systems rather than replace them, and it links directly to LSEG’s Workspace so investors and fund managers can manage private market deals in familiar tools.
