Switzerland’s SIX Securities Services Develops Blockchain-Based Bond Issuing Solution

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SIX Securities Services, Switzerland’s post-trade market infrastructure has developed – and intends to deploy – a distributed ledger technology (DLT) based solution covering the entire bond life-cycle – from issuance to settlement.

In late September last year SIX Securities Services announced its partnership with Digital Asset Holdings to develop distributed ledger technology based solutions for the Swiss Financial Market.

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The bond issuance prototype, was presented at this year’s SIX Securities Services Post Trade Forum at the Andaz Hotel in London on the 16th of March. The solution enables the issuing of bonds as smart contracts that specify at what dates coupon payments are made, for what amounts and how/when repayments occur.

The customer benefits of a distributed ledger based platform are numerous. They include: one single source of data stored on a ledger, agreed to and used by all parties to the transaction; an immutable digital record of transaction data flows between market participants – secure, confidential and highly available; Significant cost reduction through the removal of operational and reconciliation processes and the reduction of settlement/counterparty risk and associated capital requirements.

Thomas Zeeb, CEO SIX Securities Services:

“This is an interesting solution approach. Though still some way off for market-wide adoption, we are firmly of the belief that the potential shown here is promising – for us – and for the industry as a whole. It also demonstrates our philosophy of focus and determination to research technological advancement with minimal disruption to our existing business models. I am convinced that what we have achieved with this approach could revolutionise several processes used by the Swiss Financial Services Industry while sustainably securing our role in the provision of services throughout the Swiss Value Chain.

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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