SIX, the main stock exchange in Switzerland has been planning to leverage digital ledger technology for its trading and stock exchange performance. The newly incepted digital exchange has been dubbed SDX. The bank has now announced that the SDX platform is a work in progress and is expected to be completed in the second half of the year 2019.
The group is looking to launch the platform at its earliest with the claim that despite the unsure date of the launch at the moment the platform would be taking advantage of the technology to ride on the tide towards that is the digital trading revolution.
The project’s lead man Thomas Zeeb has recently revealed to the local Swiss media that the platform is under progress and should be expected to launch in the fourth quarter of the year. He added that if there are unforeseen delays the launch could also go beyond the year 2019.
On the other hand, the company’s Group Chairman Romeo Lacher expressed at the Worlds of Exchange Conference that the platform is on its course and would be launching as per schedule.
The exchange has chosen distributed ledger technology (DLT) based on the proven efficiency of the tech and the secure nature of transactions on the said technology.
The Chief Executive Officer of the company Joss Dijsselfhof has also expressed to the media that once the digital exchange is in place the transaction times would be cut down from two days to only a second.