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SIX Digital Exchange (SDX) today announced that it has received regulatory approval from FINMA, the Swiss financial market supervisory body, to operate a stock exchange and central stock exchange for digital assets in Switzerland.
In an official announcement, SIX stated that the new approval by FINMA has enabled SDX to operate with a fully regulated and integrated infrastructure for trading, settlement and custody based on distributed ledger technology (DLT) for digital securities.
With the latter mandate, SIX Digital Exchange can now provide efficient services in a secure and orderly environment. In addition to the recent approval, SDX outlined plans to invest in expanding the global digital financial ecosystem.
“The digital transformation of financial markets continues apace, and while the final market shape is still evolving, this is an important milestone in providing institutional investors with a secure and robust infrastructure that meets all the basic requirements of a traditional exchange and securities clearing infrastructure. In this regard, the approval process for SDX has been an invaluable experience for SIX and for the industry as a whole,” said Thomas Zip, Global Head of Exchanges and member of the SIX Executive Board.
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In August 2021, SIX announced a partnership with VentureLab to support Swiss entrepreneurs. Earlier this year, the exchange launched a new section dedicated to facilitating Small and Medium Enterprises (SMEs).
digital financial system
Switzerland is one of the most important regions for global financial companies. The state has taken several initiatives to digitize the financial markets in the past few years. “This is an important milestone in bringing the digitization of capital markets into the mainstream, but it is just the beginning. We will continue to work with our clients, regulators and other stakeholders to shape the markets of the future.”
In its most recent financial results, SIX reported a sharp increase in operating income during the first six months of 2021.
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