Switzerland’s SIX Swiss Exchange To Launch Blockchain Trading Platform In Mid 2019

Announcements, Blockchain, News | February 7, 2019 By:

SIX Swiss Exchange, Switzerland’s principal stock exchange, is planning to launch its blockchain-based SDX trading platform in the second half of this year.

In July 2018, SIX announced that it was building a fully integrated, blcokchain-based end-to-end trading, settlement and custody service for cryptocurrencies. The platform aims to provide a safe environment for issuing and trading digital assets, and enable the tokenization of existing securities and non-bankable assets to make previously untradeable assets tradeable.

In an interview with Reuters on Wednesday, SIX Chairman Romeo Lacher said that when the platform launches in mid-2019, it will initially run parallel to the existing SIX platform. Using blockhain, the SDX trading platform will be able to complete an transaction in fractions of a second, eliminating two of the three steps on the exsiting SIX platform.

“The supervisory board will probably decide (on the project) in late summer,” Lacher said, adding that the group was clarifying legal and regulatory issues with the Swiss Financial Market Supervisory Authority (FINMA).

Lacher also said that they are planning to use the platform to launch its own Security Token Offering (STO), which will offer investors an equity stake in exchange for capital. They also plan to offer trading in selected stocks, followed by other stocks and later bonds, and possibly exchange-traded funds (ETF).