SIX Swiss Exchange and Nasdaq to Develop Distributed Ledger Technology for SIX's OTC Structured Products
(Thomson Reuters ONE) -
NEW YORK and ZURICH, Switzerland, Aug. 09, 2017 (GLOBE NEWSWIRE) -- SIX Swiss
Exchange and Nasdaq, Inc. (Nasdaq:NDAQ) today have announced that Nasdaq, in
collaboration with its technology partner Chain, will provide distributed ledger
technology (DLT) for a Minimum Viable Product (MVP) for SIX's OTC structured
products business. The solution will integrate with several systems currently
managed by SIX and utilize the DLT capabilities at the core of the Nasdaq
Financial Framework, Nasdaq's next-generation enterprise architecture stack.
With the MVP, SIX gains first-hand experience regarding the implementation of a
DLT solution and investigating how to leverage blockchain technology for SIX and
its members in the post-trade environment.
"We are always keen to explore innovative technologies which could serve as
basis for wider commercial offering," said Chris Landis, Division CEO SIX Swiss
Exchange. "Working together with Nasdaq reinforces our commitment towards being
an exchange at the technology forefront."
"Nasdaq is a strong believer in the power of emerging technologies to transform
financial markets," said Lars Ottersgård, Executive Vice President and Head of
Market Technology, Nasdaq. "This project with SIX Swiss Exchange, one of our
long-term partners, is a prime opportunity to explore and implement blockchain
technology in a controlled, highly collaborative environment."
In October 2016, Nasdaq and SIX Swiss Exchange extended their current
technology contract, which includes trading technology for SIX equities, ETFs,
structured products, funds and fixed income markets, as well as SMARTS Market
Surveillance and Nasdaq Pre-Trade Risk Management. The two companies have been
partners for more than 10 years.
Nasdaq's market infrastructure technologies, including trading, real-time risk,
index, clearing, CSD and market surveillance systems are operated in over 100
marketplaces, regulators, clearing houses and central securities depositories
across the Americas, Europe, Asia, Australia, Africa, the Middle East and the
Caribbean.
About SIX Swiss Exchange
SIX Swiss Exchange is one of the leading exchanges in Europe. It connects
companies from around the world with international investors and trading
participants. It creates particularly market-oriented framework conditions for
listing and trading in its highly liquid segments. SIX Swiss Exchange multiplies
the locational advantages of the Swiss financial marketplace with first-rate
services and is an ideal listing location. It distributes its own range of
indices, including Switzerland's most important blue-chip index SMI®. With the
world's most advanced trading technology X-stream INET it offers excellent
trading conditions.
www.six-swiss-exchange.com
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange
technology, listing, information and public company services. Through its
diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and
execute their business vision with confidence, using proven technologies that
provide transparency and insight for navigating today's global capital markets.
As the creator of the world's first electronic stock market, its technology
powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's
securities transactions. Nasdaq is home to 3,800 total listings with a market
value of $11 trillion. To learn more, visit: http://business.nasdaq.com
NDAQG
For Media Inquiries:
SIX Swiss Exchange
Jürg Schneider
pressoffice(at)six-group.com
Direct: +41 58 399 2129
Nasdaq
Ryan Wells
ryan.wells(at)nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nasdaq via GlobeNewswire
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