Tel Aviv Stock Exchange plans blockchain securities lending platform

Tel Aviv Stock Exchange plans blockchain securities lending platform

The Tel Aviv Stock Exchange (TASE) is working with Accenture to build a distributed ledger technology-based securities lending platform.

Working with Intel and local fintech centre The Floor, TASE and Accenture are looking to the blockchain to fill a gap in the Israeli market, where there is currently no central securities lending platform.

The new effort will act as a one-stop-shop for all securities lending activities, permitting access to larger securities volumes within shorter timeframes, says the exchange operator.

Conceived at a blockchain hackathon last year, the project will begin with a proof-of-concept, followed by a live deployment, using a private ledger on Hyperledger Sawtooth that taps Intel Software Guard Extensions technology to encrypt transaction data.

Accenture will lead the initiative, providing project management, systems integration, blockchain and cybersecurity consulting services.

Ittai Ben-Zeev, CEO, TASE, says: "The Blockchain technology will present a new level of safety for securities lending and will support growth for transactions based on this new platform. Without a doubt, TASE is now, more than ever before, a global financial innovation leader."

Comments: (1)

A Finextra member
A Finextra member 04 June, 2018, 23:16Be the first to give this comment the thumbs up 0 likes

So, "...there is currently no central securities lending platform..." and they chose DISTRIBUTED Ledger Technology to close that gap?

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