Blockchain

Switzerland’s SIX Swiss Exchange To Use R3’s Corda Blockchain For SDX Trading Platform

SIX Swiss Exchange, Switzerland’s principal stock exchange, has chosen Corda Enterprise, R3’s blockchain platform, to power its digital asset listing, trading, settlement and custody service, SIX Digital Exchange (SDX).

The SDX trading platform, which was first announced by SIX in July 2018, aims to provide a safe environment for issuing and trading digital assets, and enable the tokenization of existing securities and non-bankable assets. SIX has now selected Corda Enterprise to provide the underlying blockchain technology for SDX.

Sven Roth, member of the management team at SDX, said that as a highly regulated and trusted financial market infrastructure provider, SIX must operate at the highest levels of security and stability, and they felt Corda Enterprise was the best fit for the scale and breadth of service they envisage with SDX.

“We are building the future exchange for digital assets, so the ability to adapt and evolve the ecosystem over time is crucial,” Roth said. “R3’s wide developer community, open-source code base and experience across a range of industries make it ideal for this purpose.”

Corda Enterprise, the commercial distribution of the Corda blockchain, has been designed specifically for highly regulated environments with exacting requirements around quality of service and the network infrastructure in which they operate. R3 claims that it will provide a key element for SDX’s fully integrated end to end trading, settlement and custody service for digital assets.

David E. Rutter, CEO and founder of R3, said that representing assets as tokens on a blockchain platform is one of the most impactful applications of the technology and a key focus for R3.

“By enabling capital market transactions on a decentralized ledger, not only can SDX reduce costs for investors, but also enable the trading of some assets for the first time,” Rutter said. “This will have a huge impact for investors, providing new opportunities for capital and creating more effective markets.”

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