A new Swiss exchange has been licensed to trade digital assets using distributed ledger (DLT) technology.
This content was published on September 10, 2021 – 09:42
On Friday, the SIX Digital Exchange (SDX) received the green light from the Federal Financial Market Supervisory Authority (FINMA) to operate as a stock exchange and central securities depositoryExternal link.
The licensing milestone means SDX can now trade securities, such as stocks and corporate bonds, on a blockchain-like digital platform. SDX supports new technology to reduce negotiation times and save costs.
SDX’s parent company is SIX Group, which is owned by several Swiss banks and already operates Switzerland’s largest traditional stock exchange. In a reportExternal link, SIX said it will begin to integrate financial firms around the world and explore partnerships to create a global exchange network for digital assets, freeing up global liquidity.
He’s already joined a consortium to build a DLT exchange in Singapore, with a Japanese company hoping to launch a similar platform in Osaka.
First unveiled in 2018, SDX had initially hoped to start trading a year later, but so far the regulator has kept it waiting.
The new exchange will start trading without company boss (equivalent to CEO) Tim Grant, who was recently poached by US cryptocurrency broker Galaxy Digital last week. Grant will be replaced in October by David Newns, an executive of the American financial services company State Street.
Grant previously told SWI Swissnfo.ch that he wanted SDX to expand into cryptocurrencies and other decentralized assets on public blockchains, but it is not clear whether the exchange will pursue this strategy from now on.
SDX has already suffered a few bumps and delays on the way to obtaining its stock market license. These include the departure of its first CEO and other executives in 2019 following strategic differences with SIX Group.
SDX is one of the many DLT compatible trading platforms to be implemented in Switzerland and other countries. Germanys Deutsche Brse recently acquired Swiss brokerage firm Crypto Finance as it builds its own digital asset trading infrastructure. Other projects are underway in the United States, Singapore, Thailand and Japan, among others.
Swiss corporate and financial laws have been updated this year to incorporate digital assets that run on DLT systems, including the creation of a new category of DLT exchange (although SDX has taken a licensing route different).
This paved the way for the creation of bespoke digital asset trading platforms, such as those launched by Sygnum Bank and tech company Taurus.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]