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Blockchain Powered Digital Exchange of the Swiss Stock Exchange still on course

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Romeo Lacher, Chairman of the Swiss Stock Exchange Group told the Worlds of Exchange Conference in the Swiss city of Zurich the plans for the development of the SDX (a digital trading platform) was still on course.


According to Swissinfo.ch (a local news outlet), project leader Thomas Zeeb gave a suggestion that even though the launch date was fluid, this could quickly go towards the year’s last quarter or may even extend to the beginning of 2020. Despite the fact that the timetable is flexible, the SIX Group has said that their digital exchange will still meet up to benefit from the securities trading revolution.    


Improved Security and Time Efficiency

SIX Swiss Exchange has a 24-hour turnover of at least 5.20 billion Swiss Francs (CHF) or approximately $5.18 billion while its market cap is 1.67 trillion CHF which is roughly $1.6 trillion. Early last month, Jos Dijsselhof (CEO of the group) told reporters that the company chose the distributed ledger technology (DLT) due to improved security and time efficiency it will introduce to all stages of settlement and trading.


The CEO explained clearly that, normally it takes a buyer at least 48 hours before they can own stocks. Even though the trade itself takes only a fraction of a second, the rest of the time is used up by archaic processes such as transferring titles and settling payments. Dijsselhof extolled blockchain technology saying:


If we put it all on our digital exchange, then the whole process takes only a few seconds. This makes the market more efficient, but at the same time also takes risks out of the system.


As soon as the exchange becomes fully digital, blockchain-powered stock trading will minimize the attendant risks as well as widen the range of tradable titles. Dijsselhof hopes to see SIX succeeding in creating a completely blockchain-based stock market that “integrates trading, handling, and custody of digital assets.”


Businesses are looking up to blockchain-based trading platforms due to the fact that they are looking for a system that does not just save time but also ensures trustworthiness and transparency. In this regard, SIX plans to reduce the trading time from several days to only a few seconds.  



Edited by wilslaw

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