PRESS RELEASE, London, 15 July 2016

SETL Completes Initial Funding and Announces Board Appointments

London, 15 July 2016: SETL, the London based institutional payment and settlement infrastructure based on blockchain technology, announced the completion of its first round of private fundraising today.

SETL also announced additional appointments to its board. Rachel Lomax, former Deputy Governor of the Bank of England and Ed Richards, former CEO of Ofcom, join the SETL board, following the appointment of Sir David Walker as SETL Chairman in December 2015. The company will also shortly announce the name of a further appointment to the Board, who is an experienced executive board member and non-executive in government, including at agencies in the national security sector.

SETL was launched in July 2015 to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology. The SETL system will enable market participants to move cash and assets directly between each other, facilitating the immediate and final settlement of market transactions. The SETL system maintains a permissioned distributed ledger of ownership and transaction records, simplifying the process of matching, settlement, custody, registration and transaction reporting.

Since launch, SETL announced a breakthrough in technology, allowing the platform to process over 1.4bn transactions per day; launched their blockchain-powered OpenCSD platform, enabling market participants to run permissioned registry service for payments, settlement and clearing of cash and other financial instruments; and demonstrated Australia’s first working blockchain solution in collaboration with Computershare.

SETL’s Chairman, Sir David Walker, said: “This is a milestone in the development of SETL and one which I believe strengthens the company’s position significantly. At this stage in the company’s growth it is important to choose the right partners and to deliver a dependably resilient product to the market.”

Sir David Walker continued: “We are also delighted to confirm further appointments to the board. Joining as non-executives are Rachel Lomax and Ed Richards. Each of these directors brings a wealth of experience in the financial, regulatory and corporate governance spheres. Their oversight of the growth and development of SETL will be invaluable to the executive team and shareholders alike”. SETL is very mindful of the dependability and resilience of its systems and interfaces and we are delighted to welcome a further colleague to add counsel to the board, regulators, customers and shareholders.

Peter Randall, CEO of SETL, added: “We are pleased to announce that we have closed fundraising with initial partners and have agreed scope on a number of projects. With the recent announcement of our OpenCSD product, the completion of the funding arrangements and our board appointments, I am excited about developments ahead.

We believe we have a technological lead in this area having demonstrated the ability to process billions of transactions a day and are unique in having a financial grade product on the shelf and ready to go. We have already received significant indications of interest in the OpenCSD product and are in the process of choosing the initial implementation cases”.

Randall concluded: “I do not underestimate the challenges of re-tooling some of the most fundamental elements of our financial infrastructure but the benefits of doing so are significant and widespread. We are strongly positioned to commence that transformation and look forward to making further announcements shortly.”




PRESS RELEASE, London, 1 June 2016

SETL Launches Blockchain-Powered OpenCSD Platform

SETL OpenCSD enables market participants to run permissioned registry service for payments, settlement and clearing of cash and other financial instruments

London, 1 June 2016: SETL, the institutional payment and settlement infrastructure based on blockchain technology, has today announced the launch of its blockchain-powered OpenCSD platform. The OpenCSD platform, SETL’s first commercial offering, enables any market participant to commission and run a permissioned registry service for payments, settlement and clearing of cash and other financial instruments. The platform is available today and powered by the SETL blockchain technology, which has been benchmarked to settle billions of transactions a day in real-time.

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PRESS RELEASE, Melbourne, 28 April 2016

Computershare and SETL demonstrate Australia’s first working blockchain solution

Computershare (CPU: ASX) and SETL have today demonstrated Australia’s first working blockchain capital markets solution at Computershare’s annual Investor and Analyst day. The two companies are also pleased to announce a joint initiative to establish securities ownership registers using blockchain technology.

Computershare is the globe’s leading provider of share registrar and receiving agent services to issuers and plays a crucial role in maintaining accurate and complete records of securities including both dematerialized and certificated ownership. SETL is a firm dedicated to bringing blockchain technology to the post-trade environment and has developed its offering to provide financial-grade solutions – including identity, permissioning, smart-contracts and scalability.

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PRESS RELEASE, London, 15 December 2015

Sir David Walker joins SETL as Chairman

SETL also appoints Professor Philip Bond as head of Cryptography and Cyber Security, and Caroline Silver, Moelis & Company, to manage fundraising

SETL, the UK based institutional payment and settlement infrastructure based on blockchain technology, has today announced the appointment of Sir David Walker as Chairman.

Sir David Walker is a former Executive Director of the Bank of England and has served as the chairman of Barclays, Morgan Stanley International, the Securities and Investment Board and as deputy chairman of Lloyds TSB. Before his career in financial markets, Sir David served as an Assistant Secretary to the Treasury, for the UK Government. Sir David Walker is a senior member of the influential G30 group which considers and promotes advancements in international payments and settlements.

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PRESS RELEASE, London, 12 October 2015

SETL breaks through 1 billion transactions per day on blockchain

SETL, the institutional payment and settlement infrastructure based on blockchain technology, has today announced that it has established a test network which has broken the 1 billion transactions-per-day capacity barrier for blockchain movements.

SETL also gave more detail of its technology strategy, revealing it had developed novel techniques, to allow it to process transactions in a parallel and effectively remove practical constraints on volume. Anthony Culligan, the SETL CEO, stated, "We are determined to stay on the front foot in technology development and will continue to incorporate the best techniques in our developments. We have a laser focus on financial services ". Culligan further added, "We are not running on a third party platform or powered by an off-the-shelf technology. We develop at the source code level to give us absolute control over how we can deliver our service. Less than 0.5% of our current codebase is licenced technology. This announcement demonstrates the benefits of the approach."

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PRESS RELEASE, London, 27 July 2015

Introducing ‘permissioned’ blockchain technology to the post-trade environment, designed with financial market operators in mind.

SETL today announced its plans to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology. The SETL system will enable market participants to move cash and assets directly between each other, facilitating the immediate and final settlement of market transactions. The SETL system maintains a permissioned distributed ledger of ownership and transaction records, simplifying the process of matching, settlement, custody, registration and transaction reporting.

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