CEO of R3 Is Convinced by SIX, Trusts it is “The Most Ambitious Project” He’s Ever Seen
CEO of R3, David Rutter has been recently quoted for being on board with SIX. As reported by AMB Crypto, SIX, a Swiss Stock Exchange, has since shared the news that they will be offering all kinds of ETPs (exchange traded products).
ETPs are a type of security that is traded during the day and typically does not require some embedded derivatives. They are supposedly benched against indices, stocks and commodities. In addition, ETPs are viewed as having more options beyond “buying and selling,” namely, having the ability to qualify for limit and/or stop orders.
Rutter has been convinced enough to take part in SIX’s endeavor as R3 will supposedly be in charge of designing the digital asset exchange for the Swiss Stock Exchange. It was during an interview with DigFin where David Rutter openly appreciated the project, calling it, “the most ambitious project we’ve seen.” He also added that SIX stimulates, “end-to-end lifecycle of the trade.”
As for how R3 got involved, it seems like it became reality because R3 agreed to work on the DTCC project, which is short for the Depository Trust and Clearing Corporation. DTCC supposedly devotes itself in “virtually processing all securities,” notes AMB Crypto.
R3’s involvement with the DTCC project resulted in success, as the requirement for Corda was to transact 600 transactions per second, which the team exceeded by about 30 times.