SIX Swiss Exchange and Nasdaq to Develop Distributed Ledger Technology for SIX’s OTC Structured Products
August 09 2017 - 3:01AM
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
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