SIX Swiss Exchange and Nasdaq have announced that Nasdaq, in collaboration with its technology partner Chain, will provide distributed ledger technology (DLT) for a Minimum Viable Product (MVP) for SIX's 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 enterprise architecture stack. With the MVP, SIX gains 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.
"Nasdaq is a strong believer in the power of emerging technologies to transform financial markets," said Lars Ottersgård, Executive Vice President and Head of Market Technology, Nasdaq. "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."