Swiss Exchange operator SIX to launch Blockchain Powered Digital Exchange, SDX

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Switzerland’s stock exchange plans to launch its SDX (SIX Digital Exchange) trading platform backed by blockchain technology to accelerate trading, Reuters reported. The SIX group owns and operates Switzerland’s stock exchange.

In July 2018, SIX first revealed its plan to launch SDX platform on its official website. SDX exchange will provide fully integrated trading, settlement and custody infrastructure for digital assets. 

SIX Digital Exchange (SDX) will be the first of its kind market infrastructure in the world capable of bridging the gap between traditional financial services and digital communities.

The service will "enable issuing and trading digital assets, and enable the tokenization of existing securities and non-bankable assets to make previously untradeable assets tradeable".

The existing SIX platform requires three steps to complete a single trade and it generally takes several days. The will be introduced SIX Digital Exchange (SDX) will operate as a parallel exchange to existing SIX platforms.

In the latest development, SIX’s chairman Romeo Lacher told Reuters that SDX will go live in H2 2019. Lacher further added, “we want to start with our own Security Token Offering”.  The current stock exchanges around the world offer Initial Public Offering (IPO) for a stake in the company. Cryptocurrency evolution started looking at Initial Coin Offering (ICO) to raise capital for future product offerings. The digital STO (Security Token Offering) will allow raising the capital along with a stake in the company.

According to Reuters, SDX will offer trades in selected stocks, bonds and ETF (exchange traded funds) with the possibility of trading assets like paintings, vintage cars in the future.

Financial Market Infrastructure (FMI) by Swiss Authorities, FINMA, and the Swiss National Bank fully regulate SIX SIX as an exchange operator and it is quite possible that SDX will also fall under these regulatory standards and same Authorities.

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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