Swiss Stock Exchange To Launch Blockchain Platform Later This Year | ETHNews Brief
SIX, Switzerland’s largest stock exchange, has announced plans to launch its blockchain-based trading platform in the second half of 2019.
The head of the exchange, Romeo Laher, spoke about the development of the SIX Digital Exchange (SDX), which will initially operate in tandem with the existing platform. According to him, now every deal includes a series of stages, the passage of which may take several days. However, a distributed ledger allows you to get rid of two procedures and reduce the trading cycle to a second..
The SDX is expected to handle a wider range of securities. In the future, some supported assets may be tokenized. Even the possibility of trading in non-standard instruments, such as paintings or rare cars, is being considered..
The supervisory board is likely to make a final decision in the summer of 2019, as legal issues are still being discussed with local regulators. After the launch of the blockchain platform, it is also planned to use it to raise funds through an STO (security token offering).
Blockchain technology increasingly used by traditional financial institutions. Recently it became known that six commercial banks from Saudi Arabia and the United Arab Emirates have joined the digital currency project for cross-border transactions between two countries.
text: Ivan Malichenko, photo: rfj, reuters