In a recent SEC filing, Nasdaq has revealed that it has inked an agreement with SIX Swiss Exchange, a subsidiary of SIX Group, on using a blockchain-based solution for over-the-counter products, CoinDesk reported.
SIX Swiss Exchange is a leading independent exchange in Europe, connecting companies from around the world with international investors and trading participants.
The filing states:
“In July 2017, Nasdaq also signed an agreement with SIX Swiss Exchange to implement a distributed ledger technology based solution for the OTC structured products business from SIX, highlighting further commercialization of blockchain with the Nasdaq Financial Framework.”
In May 2016, Nasdaq launched the Nasdaq Financial Framework – its harmonized approach to delivering robust end-to-end solutions to global financial infrastructure providers in an open, agile environment. The framework enables market operators to easily leverage the latest and innovative technologies —including blockchain—and bring new functionality to market more quickly.
Nasdaq has been actively involved in the blockchain space. In 2015, it unveiled Linq – a digital ledger technology powered by blockchain that facilitates the issuance, cataloging and recording of transfers of shares of privately-held companies on The NASDAQ Private Market.
More recently, Nasdaq and Citi announced a new integrated payment solution that enables straight through payment processing and automates reconciliation by using a distributed ledger to record and transmit payment instructions.
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