Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Chile’s Santiago Exchange, IBM to introduce blockchain for securities lending solution

Chile’s Santiago Exchange has collaborated with IBM in a move to introduce blockchain technology across Chile’s financial sector.

The partnership announcement marks that Santiago Stock Exchange being the first stock market in Latin America to integrate IBM blockchain solution within its short selling system for securities lending solution. The blockchain solution that is built by IBM and Chile’s Santiago Exchange, is designed to help reduce errors, possible fraud, and processing time for each transaction, while also improving transaction management and lowering costs, the announcement said.

“Santiago Exchange is a technologically advanced company, which provides the infrastructure and systems for all types of securities transactions, and their clearing and settlement. The Exchange also provides information services and management systems for intermediaries. Incorporating Blockchain into our business processes is in line with that purpose and positions us as a forerunner in the financial market,” Andrés Araya CIO of Santiago Exchange said.

In case of Santiago Exchange, the blockchain solution will offer time savings for the back-office processes. Developed by IBM, the blockchain solution is based on the open source Linux Foundation’s Hyperledger Fabric and is expected to be widely available to support multiple parties across the financial industry ecosystem this year.

“Our agreement with Santiago Exchange marks a before and after in terms of innovation in the stock market. Santiago Exchange is a pioneer in its industry, and the Blockchain adoption establishes a transformational precedent in the financial market, not just in Chile but in the region and the world,” Francisco Thiermann, IBM Chile General Manager, remarked.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2018-04-24 00:45:23
0m

April 23 22:45 UTC Released

NZExt Migration & Visitors

Actual

13 %

Forecast

Previous

11.4 %

April 23 22:45 UTC Released

NZPerm/Long-Term Migration

Actual

5480

Forecast

Previous

4970

January 31 00:00 UTC 119595119595m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 119595119595m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 131415131415m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 119595119595m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 131415131415m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 119595119595m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 119595119595m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 119595119595m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.