SIX, the Largest Stock Exchange in Switzerland, Plans To Switch To Blockchain

SIX Exchange is a big name in the financial world — they are the top stock exchange in Switzerland, “the financial capital of the planet.” And compared to the other major stock exchanges, SIX is incredibly crypto-friendly. Last year they launched the world’s first exchange-traded product (ETP) which tracks cryptocurrency assets. Now it’s time for the next step.

According to CEO Jos Dijsselhof, the company began the development of a new blockchain-based trading mechanism. The new SIX Digital Exchange (a.k.a. SDX) will work alongside SIX and will provide faster and more reliable trading procedures. It is yet too early to make concise predictions, but the goal for SDX is to shave the order processing to fractions of a second — compared to hours and even days on current SIX.

This is the beginning of a new era for capital markets infrastructures. For us, it is abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry.

Romeo Lacher, a SIX chairman, added:

We want to start with our own security token offering.

What exactly will this token be is so far unknown, but the adoption of blockchain by such a large financial entity instills hope. Maybe it’s time to update the crypto forecasts for 2019 for the better.

by JustForex, 2018.10.22

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Best Gold Trading Tips For Beginners
Gold is one of the most popular assets traded worldwide by investors, funds, and speculators who aim to profit from the price fluctuations or stand up against inflation. Unfortunately, many market participants fail to catch the wave and take full advantage of what the gold market can offer due to the lack of knowledge and experience. Are you planning to become the next gold trader? Learn how to trade gold in the most profitable way.
Read more
How to Become a Successful Forex Trader in Malaysia
With broad access to online brokerage services, everyone can become a trader these days. However, few people actually find success in FX. The reason might be that many of those who try trading skip some essential steps or simply do things wrong. Learn about the best ways to become a currency trader in Malaysia from this article.
Read more
How to Become a Forex Trader in Indonesia
Starting trading currencies in Indonesia is as easy as in the rest of the world. All you need to do is spend a few minutes of your time on opening a trading account and going through the verification process. However, this is hardly enough to start making money, let alone make a living out of forex trading. To learn about the best ways to trade currency in Indonesia, read this article.
Read more