The major Swiss stock exchange SIX reportedly plans to launch a blockchain platform in the second half of the year striving to improve trading speed. The new platform will reportedly be called SIX Digital Exchange (SDX). It will initially work alongside the currently operating SIX platforms.
As of today, the exchange process transactions in several steps, which can take up to several days. At the same time, the blockchain technology will help to reduce the processing time by skipping two out of three stages, which surely may boost the transaction speed.
The exchange representatives noted that SDX will support a limited number of shares at first, but later its capabilities will be expanded. In the future, the platform can add exchange-traded funds (ETFs) and even tokenized tangible assets, like art objects, for example.
The platform can allegedly be commissioned in mid-H2, but for now, they focus on ensuring that its operations comply with the Swiss Financial Market Supervision Authority (FINMA) requirements.
Following the launch of the announced platform, the exchange is also considering a concept of their own security token.
Notably, late last year, SIX added exchange-traded product (ETP) tied to five major cryptos under the ticker symbol HODL.