Seven large financial institutions – including Euronext, BNP Paribas Securities Services, Societe Generale and Euroclear – have teamed up in the latest industry consortium aimed at developing blockchain-based services for capital markets.

The firms, which also include S2iEM and Caisse des Dépôts, announced on June 21 that they had signed an agreement to set up an independent company that will use blockchain technology to create and deploy post-trade services aimed at small and medium enterprises.