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Primarymarkets Recipient Of A$3m Federal Government Grant

Wednesday, January 09, 2019

On 24th December 2018, leading investment trading platform PrimaryMarkets Limited (PrimaryMarkets) was announced as a Project Participant in the A$3M grant (Grant) by the Australian Federal Government Cooperative Research Centres Project (CRC-P) programme. Other consortium participants in this Grant include BlackWall Property Funds Limited and Digicash Pty Ltd.

The project for the Grant (Project) is “Secondary Trading of Unlisted Financial Securities with pre-settled Smart Contracts” and provides the following:

  • The description of the Project is “Many financial securities are not listed on exchanges, with resultant high transaction costs. Recent developments in “Smart Contract” technology promise to improve this situation, but so far have been hindered by cyber security concerns. This project develops next-generation security and trading technology for a smart-contract based marketplace, and makes it available to issuers of unlisted securities. This technology will increase capital availability, firing up the innovation process”.
  • The funding period is from 1st January 2019 to 31st December 2021.
  • The Total Grant amount is A$3M of the Total Project Value of A$11,900,500.
  • The Grant is a $ for $ funding.

Nicholas Capp, Founding MD/CEO of PrimaryMarkets said:

PrimaryMarkets is both delighted and honoured to be a participant in the CRC-P Grant of A$3M. This funding will support the continued development and roll-out of our trading platform for private/unlisted securities with a strong focus on blockchain and cyber-security protocols and compliance.”


 


 

 

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