Nasdaq to develop DLT solution for structured products on SIX Swiss Exchange

Capital markets infrastructure operator Nasdaq announced today with its enterprise-grade financial blockchain partner Chain that they will provide distributed ledger technology (DLT) for a Minimum Viable Product (MVP) for the SIX Swiss Exchange OTC structured products business.

The solution will integrate with several systems currently managed by SIX and utilize the DLT capabilities at the core of the Nasdaq Financial Framework, Nasdaq’s next-generation enterprise architecture stack.
With the MVP, SIX gains the first-hand experience regarding the implementation of a DLT solution and investigating how to leverage blockchain technology for SIX and its members in the post-trade environment.

[perfectpullquote align=”full” bordertop=”false” cite=”Chris Landis, Division CEO SIX Swiss Exchange ” link=”” color=”” class=”” size=””] “We are always keen to explore innovative technologies which could serve as basis for wider commercial offering. Working together with Nasdaq reinforces our commitment towards being an exchange at the technology forefront.”   [/perfectpullquote]

[perfectpullquote align=”full” bordertop=”false” cite=”Lars Ottersgård, Executive Vice President and Head of Market Technology at Nasdaq ” link=”” color=”” class=”” size=””]“Nasdaq is a strong believer in the power of emerging technologies to transform financial markets. This project with SIX Swiss Exchange, one of our long-term partners, is a prime opportunity to explore and implement blockchain technology in a controlled, highly collaborative environment.”[/perfectpullquote]

In October 2016, Nasdaq and SIX Swiss Exchange extended their current technology contract, which includes trading technology for SIX equities, ETFs, structured products, funds, and fixed income markets, as well as SMARTS Market Surveillance and Nasdaq Pre-Trade Risk Management. The two companies have been partners for more than 10 years.

Nasdaq’s market infrastructure technologies, including trading, real-time risk, index, clearing, CSD and market surveillance systems are operated in over 100 marketplaces, regulators, clearinghouses and central securities depositories across the Americas, Europe, Asia, Australia, Africa, the Middle East, and the Caribbean.