The largest securities exchanges and post-trade service providers are "moving towards a world" of blockchains in the capital markets – though the extent to which the tech will deliver on its promise of cost and time efficiencies remains unclear.

This is according to survey of 25 exchanges, clearing houses and central securities depositories - including CME Group, the Depository Trust and Clearing Corporation, Deutsche Börse, LCH.Clearnet and Nasdaq - conducted by the World Federation of Exchanges and the International Organization of Securities Commissions.