The Swiss Stock Exchange is set to open its digital blockchain trading in the second semester, its top official said.
Time efficient proven
Jos Dijsselhof, SIX (SDX) chief executive officer, said in a Cointelegraph interview that Six, the company behind the Swiss Stock Exchange, chose the digital platform as it is proven to be time efficient and when talking about security, the digital technology employs better and improved security in exchange market.
The digitalization of the company’s blockchain trading will run alongside its current crypto trading system.
Dijsselhof said during the same interview that with the traditional system, it usually takes two days for a stock buyer to become the owner. But with the forthcoming system, he said: “the whole process takes only a few seconds which makes the market more efficient, and at the same time also takes risks out of the system.”
New platform
Meanwhile, the chairman of the company, Romeo Lacher, during a conference sideline interview by Reuters, expressed optimism that the company will soon replace all its other traditional exchange system into digital within a decade from now, adding that they hope several of the company’s assets will move to the new platform.
Although Lacher did not divulge what particular assets these would be, he assured selected stocks will be included in the digitalization soon, saying that “digitalization of each asset will go through a rigorous review process”.
He also expressed that the company will also introduce tokenization of its other securities and assets.
Six is not the only trading market which plans to test the waters of digitalization as there are many others who are undertaking such changes, the Deutsche Boerse for example, which already delved into the new technology for its virtual currencies and blockchain.
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(This article is written by Cristina Eleuterio-Alivio)