CSE to launch blockchain-powered clearing and settlement platform
The Canadian Securities Exchange (CSE) is set to challenge TMX, announcing the launch of a new blockchain-based platform that will look to clear and settle securities trades.
“This is a landmark announcement for the Canadian capital markets,” said Richard Carleton, Chief Executive Officer of the CSE. “The Canadian Securities Exchange expects to be the first recognized exchange in Canada to introduce a fully developed blockchain platform for trading, clearing and settling tokenized securities.”
The exchange will allow companies to issue equity and debt through security token offerings (STOs), which the, unlike cryptocurrencies, will be subject to full regulation by securities commissions.
“Our platform represents an intersection between blockchain and the capital markets that delivers on blockchain's promise to disrupt conventional transaction and record-keeping mechanisms, thereby providing tangible benefits for market stakeholders,” Carleton continues.
One of the key benefits that the security platform offers is providing real-time clearing and settlement, both cutting costs and reducing errors compared to conventional existing services that take two full business days.
If approved, the new exchange will become a significant rival to the Canadian Depository for Securities (CDS), owned by TMX, that has long stood as Canada’s main clearing and settlement hub.
“We look forward to working with regulators and with corporations seeking to raise capital through STOs to fully realize the benefits of the new platform,” said Carleton. “We believe it represents a tremendous opportunity for stakeholders in the Canadian marketplace.”
CSE has signed an MoU with Vancouver-based Kabuni Technologies that intends to file a prospectus with the British Columbia Securities Commission (BCSC) for approval to issue tokens to investors through a STO.
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.