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.

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Tel Aviv Stock Exchange plans blockchain securities lending platform

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

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."

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Comments: (1)

A Finextra member 

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

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