Recognizing the high potential of this new asset class, members of the working group undertook several rounds of research and publications. This work culminated in the well-received paper named "Infrastructure for Crypto-Assets: A Review by Infrastructure Providers."
The paper corresponds well with several DLT initiatives launched by major financial players, most recently by SIX with SDX and JP Morgan with JP Coin. However, those projects mostly operate under a vertical business model. They are limited to one jurisdiction and serve only clients of the financial organization owning the blockchain.
While it's easier to create isolated blockchains, this strategy will lead to a fragmented infrastructure with low interoperability. If we want DLT to bring new efficiency to the global post-trade, we need a horizontal solution.