Over-the-counter (OTC) Russian based trading service Liquid.pro announced today it will be transferring its quotes on stock options entering the Moscow Exchange (MOEX) to the public Waves blockchain platform.
The use of blockchain technology in trading will increase transparency and ensure greater fairness of order execution.
Liquid.pro’s OTC order service has organized the transfer of its register of applications on options entering MOEX onto the public Waves blockchain platform.
Applications remain anonymous, with each user receiving a unique hash address that allows him to identify his applications on the list. The use of blockchain technology ensures high reliability and absolute transparency of the service.
Once operations recorded in a block are verified, their history cannot retrospectively be overwritten or canceled, and the information is open and accessible to any interested parties.
Active development of blockchain applications for trading is driven by two main factors:
- The use of the new technology ensures transparency of operations, which is extremely important for a process in which players participate from different perspectives.
- The blockchain significantly reduces transaction costs.
Alexander Ivanov, founder, and CEO of the Waves blockchain platform explained:
“Further efforts should be directed at transaction settlement. At the present time, this operation requires extensive resources, largely due to the fact that the participants in the process are working in different environments.”
“The interaction of traders, brokers, stock exchanges, depositories and clearing organizations is a complex and rather expensive procedure.”
“The use of blockchain technology can help to optimize this process, uniting participants within a single platform and allowing the automation of numerous stages of work.”
Aleksey Yurov, head of blockchain at Liquid.pro said:"Liquid.pro is focused on long-term, strategic work, so we could not ignore a technology as promising as blockchain. We chose Waves as a solution because the platform’s public blockchain provides high reliability and stability of work, and the development of the platform is aimed at supporting business needs. We plan to develop further cooperation."
(The service has since come offline as of March 2018, any further updates will be provided here).