The Tel Aviv Stock Exchange (TASE) has announced the launch of a new blockchain-based platform called Central Blockchain Securities Lending Platform.
According to the official press release, the platform will function as a one-stop shop for all securities lending operations, as well as provide access to large securities volumes in a shorter timeframe with short-term positions.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.
The launch of the platform is scheduled on November 2, 2020.
TASE EVP and Head of Clearing, Orly Grinfeld, says blockchain represents a new level of safety for securities lending and has enough technical features to support growth for transactions based on TASE's new platform.
"The Tel Aviv Stock Exchange is proud to present this first-of-a-kind lending pool, a safe, cutting-edge and state of the art platform," Grinfeld added.
In June, China Zheshang Bank, a Chinese commercial bank, issued securities worth $16.9 billion on a blockchain network.
The issuance of securities was implemented as part of the pilot program of the National Association of Financial Market Institutional Investors (NAFMII).
The NAFMII representative said that with the help of blockchain, companies have direct access to the markets, which greatly simplifies the attraction of financing.
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