Swiss stock exchange SIX had initially planned to launch its blockchain-based exchange SDX in the first half of 2019. That was delayed until the second half. Now a proof of concept might happen this year, but trading will start in 2020. CEO Jos Dijsselhof outlined the reasons in an interview with
NZZamSonntag. They plan to list tokenized Nestle and Novartis shares on SDX, but it requires a change in the law.
From March to June this year the
Swiss Federal Council conducted a consultation about changes in
legislation to accommodate digital exchanges. The plan is to create a new category of “DLT trading systems” to offer services such as trading, settlement and custody of DLT-based assets. Additionally, new legislation will govern electronic rights registration for DLT-based assets and explicitly incorporate such assets into its bankruptcy legislation.
The benefits of SDX are nearly instant settlement and the potential for fractional ownership. There’s a transparent digital register of ownership, and the ability to tokenize a variety of assets such as wine, art and property.
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