SIX Swiss Exchange and Nasdaq to Develop Distributed Ledger Technology for SIX's OTC Structured Products
August 09 2017 - 3:01AM
NEW YORK and ZURICH, Switzerland,
Aug. 09, 2017 (GLOBE NEWSWIRE) -- SIX
Swiss Exchange and Nasdaq,
Inc. (Nasdaq:NDAQ) today have announced that Nasdaq,
in collaboration with its technology partner Chain, will
provide distributed ledger technology (DLT) for a Minimum Viable
Product (MVP) for SIX's OTC structured products business. The
solution will integrate with several systems currently managed by
SIX and utilize the DLT capabilities at the core of the Nasdaq
Financial Framework, Nasdaq's next-generation enterprise
architecture stack. With the MVP, SIX gains 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.
"We are always keen to explore innovative
technologies which could serve as basis for wider commercial
offering," said Chris Landis, Division CEO SIX Swiss Exchange.
"Working together with Nasdaq reinforces our commitment towards
being an exchange at the technology forefront."
"Nasdaq is a strong believer in the power of
emerging technologies to transform financial markets," said Lars
Ottersgård, Executive Vice President and Head of Market Technology,
Nasdaq. "This project with SIX Swiss Exchange, one of our long-term
partners, is a prime opportunity to explore and implement
blockchain technology in a controlled, highly collaborative
environment."
In October 2016, Nasdaq and SIX Swiss Exchange
extended their current technology contract, which
includes trading technology for SIX equities, ETFs, structured
products, funds and fixed income markets, as well as SMARTS
Market Surveillance and Nasdaq Pre-Trade Risk Management.
The two companies have been partners for more than 10
years.
Nasdaq's market infrastructure technologies,
including trading, real-time risk, index, clearing, CSD and market
surveillance systems are operated in over 100 marketplaces,
regulators, clearing houses and central securities depositories
across the Americas, Europe, Asia, Australia, Africa, the Middle
East and the Caribbean.
About SIX Swiss
Exchange
SIX Swiss Exchange is one of the leading exchanges
in Europe. It connects companies from around the world with
international investors and trading participants. It creates
particularly market-oriented framework conditions for listing and
trading in its highly liquid segments. SIX Swiss Exchange
multiplies the locational advantages of the Swiss financial
marketplace with first-rate services and is an ideal listing
location. It distributes its own range of indices, including
Switzerland's most important blue-chip index SMI®. With the world's
most advanced trading technology X-stream INET it offers excellent
trading conditions.
www.six-swiss-exchange.com
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider
of trading, clearing, exchange technology, listing, information and
public company services. Through its diverse portfolio of
solutions, Nasdaq enables customers to plan, optimize and execute
their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global
capital markets. As the creator of the world's first electronic
stock market, its technology powers more than 90 marketplaces in 50
countries, and 1 in 10 of the world's securities transactions.
Nasdaq is home to 3,800 total listings with a market value of $11
trillion. To learn more, visit: http://business.nasdaq.com
NDAQG
For Media Inquiries:
SIX Swiss Exchange
Jürg Schneider
pressoffice@six-group.com
Direct: +41 58 399 2129
Nasdaq
Ryan Wells
ryan.wells@nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Nasdaq via Globenewswire
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