Swiss Stock Exchange SIX Releases Its Own Prototype For a Crypto Asset Exchange

SIX, a well-known Swiss stock exchange, has recently decided to launch a pilot version of its platform. The prototype, which was launched by SIX Digital Exchange, a subsidiary of the company, is focused on digital assets and to act as a central securities depository.

According to the company, the full launch is expected to happen during the last quarter of 2020 and it will be representative of the future of financial markets. The beta launch, which is happening now, was made to get some feedback from testers before the platform is fully ready for the launch.

The company intends to show to the world that the blockchain can be used to create a central securities depository that will integrate a centralized order book with decentralized technology to create a fair market.

The chairman of SDX, Thomas Zeeb, affirmed that the launch of this project is a major milestone for the creation of the digital infrastructure that is needed to move the industry forward. Initially, the platform will be created to issue digital securities, for live trading and instant settlements. It will also use a structure that is very similar to SIX’s.

Zeeb affirmed that the ultimate goal of the new platform is to use let the users settle their trades instantly with no counterparty risk.

This, he affirmed, will speed things up. If both sides have what it takes for the trade and they want to do it, the settlement happens instantaneously. He also affirmed that the next phase of the project will be rolled out soon.

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