SIX Swiss Exchange Delays SDX Launch: What to Expect Next?

What’s the Scoop on SIX Digital Exchange?

Switzerland’s renowned SIX Swiss Exchange has hit the pause button on the eagerly anticipated launch of its ‘fully regulated’ crypto trading platform, the SIX Digital Exchange (SDX). Initially slated for a speedy kickoff, the full launch has now been set for Q4 2020. But before you throw your hands in the air like a confused cat, there’s more to the story!

The Prototype’s Purpose

On September 23, the exchange announced a shiny prototype of its digital exchange and central securities depository (CSD). But it’s not just for show! The objective is to not only dazzle the financial community but also to gather feedback, while demonstrating that a distributed CSD can mesh well with a traditional stock exchange. Yes, folks, it’s all about fostering fair market conditions for all—no favoritism here!

Regulatory Rollercoaster

As noted in a report from Reuters, the delay stems from crafty legal and regulatory issues lurking in the shadows. A spokesperson revealed that SDX is still doing the tango with partner banks to finalize the services that will be offered on this platform. It’s like dating—sometimes you might just need a little more time to ensure everything’s perfect.

What Was the Original Game Plan?

Let’s take a trip down memory lane! The idea for SDX first popped up in July of last year, with dreams of a mid-2019 rollout. The exchange had grand ambitions to create “a fully integrated trading, settlement, and custody infrastructure for digital assets.” That’s a mouthful! Their aim? To be the world’s first to offer a bouquet of end-to-end services in this digital arena.

Blockchain Dreams and Digital Tokens

In the world of innovation, SIX decided to hitch its wagon to R3’s Corda Enterprise platform for SDX. They’ve been busy testing blockchain integration and laying the groundwork to tokenize a variety of assets, including stocks and bonds. Talk about turning traditional practices on their head!

Riding the Digital Wave: Tokens and Stablecoins

Fast forward to May, and SDX had plans bubbling to issue its own digital token, with hopes of tokenizing existing securities. Thomas Zeeb, the head of securities and exchanges at SIX, expressed a vision where these tokens could eventually replace traditional shares. Talk about being ahead of the curve!

Also worth mentioning is SIX’s recent request to the Swiss central bank to issue a stablecoin. This stablecoin isn’t just decoration; it’s planned to aid in settling payments on SDX, putting the whole operation on a secure financial path.

In Conclusion

In short, while the launch of SIX Digital Exchange may be taking its sweet time, there’s plenty of groundwork being laid for the future of digital trading in Switzerland. As they say, good things come to those who wait—let’s hope this trend holds true for the SIX Swiss Exchange!