Deloitte Luxembourg

Globally, Deloitte is one of the world's largest professional services firms employing over 200,000 professionals in more than 150 countries.

In Luxembourg, Deloitte consists of more than 90 partners and about 1,700 employees and is amongst the leading professional service providers on the market. For over 60 years, Deloitte Luxembourg has delivered high added-value services to national and international clients in: accounting, audit, human capital advisory, strategy & operations, financial advisory, tax, insurance, reinsurance, transfer pricing, fund registration, risk management, anti-money laundering, mergers & acquisitions, private equity, real estate, liquidation, company value determination, intellectual property, investment management, and information technology.

 

Deloitte Luxembourg has developed a proof of concept to address regulatory transaction reporting in a Distributed Ledger Technology (DLT) environment. Through smart contracts, transaction reporting becomes more transparent, reliable, fast and immutable.

Distributed Ledger Technology offers a world of new opportunities when it comes to trade, post trade and related regulatory reporting. Thanks to smart contracts and DLT, the quality and transparency of reported transaction data will increase and the reporting costs will be substantially reduced,” explains Laurent Collet, Partner at Deloitte Luxembourg. “With a DLT solution, the transaction data will be readily available to the trade repositories and regulators in a unified form and there will no longer be any need for time-consuming reconciliation.”

“With this proof of concept we explore a new paradigm in which distributed ledger technology does not disintermediate incumbents but rather proposes a far more efficient and lean processing of regulatory reporting using proofs of process and tokenized transaction reports. By combining this solution with developments undertaken by other Deloitte member firms, we are able to propose to our clients an ever growing DLT-based ecosystem of solutions for the financial services industry, demonstrating the combined strengths of our global networks of industry and technological specialists,” concludes Thibault Chollet, Director and Blockchain Leader at Deloitte Luxembourg.

 

Deloitte Luxembourg has developed a proof of concept to address regulatory transaction reporting in a Distributed Ledger Technology (DLT) environment. Through smart contracts, transaction reporting becomes more transparent, reliable, fast and immutable.

Distributed Ledger Technology offers a world of new opportunities when it comes to trade, post trade and related regulatory reporting. Thanks to smart contracts and DLT, the quality and transparency of reported transaction data will increase and the reporting costs will be substantially reduced,” explains Laurent Collet, Partner at Deloitte Luxembourg. “With a DLT solution, the transaction data will be readily available to the trade repositories and regulators in a unified form and there will no longer be any need for time-consuming reconciliation.”

“With this proof of concept we explore a new paradigm in which distributed ledger technology does not disintermediate incumbents but rather proposes a far more efficient and lean processing of regulatory reporting using proofs of process and tokenized transaction reports. By combining this solution with developments undertaken by other Deloitte member firms, we are able to propose to our clients an ever growing DLT-based ecosystem of solutions for the financial services industry, demonstrating the combined strengths of our global networks of industry and technological specialists,” concludes Thibault Chollet, Director and Blockchain Leader at Deloitte Luxembourg.