Tel Aviv Stock Exchange launches blockchain securities platform

The Tel Aviv stock exchange (TASE) plans to launch its blockchain-based securities lending fund in November.

In a July 28 announcement, TASE said so The platform will play a key role in the country’s capital markets, where there is currently no central securities lending system.

In contrast to the current configuration, which TASE believes does not meet the needs of investors, The new blockchain-based system will concentrate all securities lending activities under one roof and enable direct lending between investors via a number of important financial instruments.

Tried and tested

Tel Aviv Stock Exchange launches blockchain securities platform
Tel Aviv Stock Exchange launches blockchain securities platform

In March of this year TASE has launched a special test environment for the platform, in which members can carry out loan transactions. Based on these results, the exchange will adjust its systems before November.

The exchange has highlighted the value that blockchain technologies offer;; In particular, support for peer-to-peer transactions, intelligent contract functions and increased transaction security due to the unchangeable quality of the blockchain.

TASE states that This enables custodian banks and customers of the exchange to work with a higher level of security at lower costs..

In a statement, Orly Greenfeld, senior vice president and director of TASE’s compensation department, said: “Blockchain technology enables securities lending trading, secures information and supports an increased number of transactions“”

TASE partners include Accenture and Intel

In May 2018, TASE announced the development of its new platform, which is based on the use of Hyperledger Sawtooth. The exchange worked on the project with partners such as Accenture, Intel and the Israeli fintech The Floor.

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