In May 2018, the Tel Aviv Stock Exchange (TASE), Israel’s only stock market, unveiled work on its Blockchain Securities Lending (BSL) platform in collaboration with Accenture and The Floor. As it nears production, TASE took the smart contract work in-house and today announced that Blockchain Technology Partners (BTP) has been working on operational aspects of the project to ensure production readiness.
At the end of December 2018, the global securities lending aggregate was €2.2 trillion ($2.4 trillion), according to industry body ISLA. And revenues from securities lending in the first half of 2019 were €4.5 billion ($5 billion).
There is no centralized securities lending platform in Israel. By providing such a platform, TASE hopes to make larger securities lending volumes feasible. Greater efficiency will reduce costs and settlement can happen faster, making shorter-term positions possible.
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