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.

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