SIX Swiss Exchange, Nasdaq and Chain team for blockchain OTC project
It’s blockchain news time!
SIX Swiss Exchange and Nasdaq and working with blockchain tech company Chain to provide distributed ledger technology (DLT) for SIX’s over-the-counter (OTC) structured products business.
The solution will integrate with several systems currently managed by SIX and utilise the DLT capabilities at the core of the Nasdaq’s enterprise architecture stack, Nasdaq Financial Framework.
The project is limited to delivering a minimal viable product (MVP). The participants say it will help SIX “gain first-hand experience regarding the implementation of a DLT solution and investigating how to leverage blockchain technology for SIX and its members in the post-trade environment”.
Chris Landis, division CEO of SIX Swiss Exchange, emphasises that the exchange is “always keen to explore innovative technologies which could serve as basis for wider commercial offering”.
Nasdaq and SIX Swiss Exchange are already long-standing technology partners. SIX Swiss Exchange uses Nasdaq’s X-stream INET platform. Last year, the two parties extended their existing contract to include trading technology for SIX equities, ETFs, structured products, funds and fixed income markets, as well Nasdaq’s Smarts market surveillance and pre-trade risk management solutions.
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Deadline for submitting the nominations is 25 August 2017.
