The Sydney Stock Exchange (SSX) has partnered with the United Kingdom start-up Bit Trade Labs to offer “instant” the United Kingdom-based settlements of financial trades; the current backend process for exchanges takes between two and 30 days to complete. The SSX launched the project in response to the Australian Securities Exchange (ASX) monopoly on the trading infrastructure, which left SSX without the means of rejuvenating the clearing and settlement process.
The Sydney Stock Exchange (SSX) has partnered with blockchain start-up Bit Trade Labs to offer “instant” blockchain-based settlements of financial trades; the current backend process for exchanges takes between two and 30 days to complete. The SSX launched the project in response to the Australian Securities Exchange (ASX) monopoly on the trading infrastructure, which left SSX without the means of rejuvenating the clearing and settlement process.