- LSEG plans on launching a blockchain-based trading platform next year.
- The financial information company is already in talks with British regulators.
- Shares of London Stock Exchange Group ended marginally down today.
The London Stock Exchange Group PLC just announced plans of launching a blockchain-based trading platform.
Julia Hogget will lead the new trading venue
On Monday, its Head of Capital Markets – Murray Roos told the Financial Times that LSEG had been evaluating the potential of blockchain technology in trading financial assets for about a year.
The financial information company now expects to officially introduce the said platform next year provided that it secures the required regulatory approvals. According to Roos:
The idea is to use digital technology to make a process that it slicker, smoother, cheaper, and more transparent … and to have it regulated.
Julia Hogget – the Chief Executive of the London Stock Exchange is slated to lead the announced projects. Shares of LSEG ended marginally down on Monday.
LSEG is in discussions with British regulators
The London Stock Exchange Group is already in talks with regulators as well as government of the United Kingdom. Murray Roos also told the Financial Times today:
Ultimate goal is global platform that allows participants in all jurisdictions to interact with people in other jurisdictions abiding by regulations, potentially multiple jurisdictions simultaneously.
He confirmed, though, that LSEG is not interested in building cryptoassets – all it wants is to be able to use the blockchain technology to enhance the efficiency of trading financial assets.
Last month, the capital markets firm said its income was up 11.8% on a reported basis in the first six months of this year.
Credit: Source link