Project saw cash and securities tokens swapped for settlement using DLT, and tokenised cash used as collateral for margin requirements.
Panelists at Sibos in London agreed that flash crashes are more common in markets today, but the industry still lacks understanding.
The newly formed group is led by Roman Schmidt, who took over the FICC business at Commerzbank earlier this year.
State Street, BNY Mellon and MUFG among those backing the tokenisation project aimed at transforming clearing and settlement.
David Hatton, formerly at Commerzbank and LCH, will join European clearinghouse EuroCCP later this month.
Commerzbank and Octopus Ventures lead $9 million funding round in fixed income analytics provider Mosaic Smart Data.
Deutsche Bank and Commerzbank both released statements over the weekend confirming that talks about being held to explore a potential merger.
The US CFTC found that Commerzbank failed to supervise its swap dealing activities and made misleading compliance statements to the regulator.
Brian Jensen, head of corporate credit trading in Europe at Commerzbank, has joined TD Securities and will build out its credit business.