Nasdaq and SIX Swiss Exchange have announced a collaboration to provide distributed ledger technology (DLT) for a Minimum Viable Product (MVP) for SIX’s OTC structured products business.
Working with technology partner Chain, the solution will integrate with several systems currently managed by SIX and utilise the DLT capabilities at the core of the Nasdaq Financial Framework, Nasdaq’s enterprise architecture.
With the MVP, SIX will gain first-hand experience regarding the implementation of a DLT solution and investigate how to leverage blockchain technology for SIX and its members in the post-trade environment.
Chris Landis, SIX Swiss Exchange division CEO, said: “We are always keen to explore innovative technologies which could serve as basis for wider commercial offering. Working together with Nasdaq reinforces our commitment towards being an exchange at the technology forefront.”
Lars Ottersgård, executive vice president and head of market technology at Nasdaq, added: “Nasdaq is a strong believer in the power of emerging technologies to transform financial markets. 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.”
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