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Singapore Exchange to streamline trading processes with blockchain tech

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Using distributed ledger know-how can deliver efficiencies to many elements of the lifecycle of economic merchandise, from itemizing and issuing by way of to the settlement of trades.

Singapore Change, or SGX, has introduced a three way partnership with funding agency Temasek to make use of DLT to streamline the issuance and buying and selling of economic merchandise listed on its platform.

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In response to a Friday report from Nikkei Asia, this may initially consider bonds, funds and sustainable monetary merchandise, and it could be prolonged sooner or later to cowl different asset courses reminiscent of equities.

SGX has beforehand collaborated with Temasek and banking large HSBC in a trial using blockchain technology to issue fixed-income securities. The primary outcomes of this trial got here in September 2020, with a $300-million bond issuance for native meals and agribusiness firm Olam Worldwide.

This was adopted by an extra three fixed-income bonds issued by way of the system, totalling over 1 billion Singapore {dollars} ($750 million) in worth.

Right this moment’s announcement formalizes the partnership within the creation of a restricted firm whereas extending and increasing the vary of the earlier trial. Lee Beng Hong — SGX’s head of fastened earnings, currencies and commodities — commented on the enterprise:

“We’re very excited to take our digital asset enterprise to the following degree in partnership with Temasek.”