Switzerland stock exchange SIX Swiss Exchange will reportedly begin testing blockchain integration for its planned digital trading platform SDX. Jos Dijsselhof, the CEO of SIX, confirmed the news in an interview with local news outlet Handelszeitung on January 31.
SIX is Switzerland’s principal stock exchange and sees over $5 billion in daily turnover. The Swiss exchange has a market capitalization of over $1.6 trillion, Ceic data showed.
According to Dijsselhof, the company had chosen blockchain technology as it can improve time efficiency and security it can offer across all stages of stock trading and settlement.
In an interview with Reuters published February 6, the exchange’s chairman Romeo Lacher said that the new platform should be finalized in late summer. The exact date of the launch, he said, will be subject to legal and regulatory clarification with the Financial Market Supervisory Authority, Switzerland’s main market watchdog.
Apart from SDX, Lacher said the company also has plans to launch its own Security Token Offering. Unnamed SIX officials told Reuters that SDX will begin by rolling out support selected stocks, followed by bonds, and possibly even ETFs.