Yesterday, the main Greek stock exchange group ATHEX announced a project to explore using the Sui public blockchain for ATHEX Group’s Electronic Book Building solution (EBB).
The contract is with Mysten Labs, the founder of Sui. In 2022 Mysten received a $300 million funding round, with backers including Franklin Templeton and Apollo. Mysten’s founders worked on Facebook’s Novi team for the Diem project and developed the Move smart contract language used by Diem.
Book building usually involves gathering offers from potential investors in IPOs for price discovery. In this case, banks and brokerage firms gather prices from the clients and funnel the data through EBB. ATHEX launched its EBB solution five years ago. It has used it for €10 billion in issuances, ranging from IPOs to secondary offerings and corporate bond issuances.
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