SIX Swiss Exchange Joins Nasdaq to Leverage Chain’s Technology for OTC | Finance Magnates
SIX Swiss Exchange and Nasdaq, Inc. (Nasdaq:NDAQ) today announced that Nasdaq, in collaboration with its blockchain technology partner Chain, will provide distributed ledger technology (DLT) for a Minimum Viable Product (MVP) for SIX’s OTC structured products business.
According to the developers, 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. SIX explains that with the MVP, it gains first-hand experience regarding the implementation of a blockchain 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.”
Back in May of this year, Nasdaq and Citi Treasury and Trade Solutions announced a new integrated payment solution that enables straight through payment processing and automates reconciliation using blockchain technology. It also leverages Chain’s blockchain infrastructure platform.
Original Source: http://www.financemagnates.com/cryptocurrency/innovation/six-swiss-exchange-joins-nasdaq-leverage-chains-technology-otc/