Updated: 02/02/2021 08:21
Hyip Monitor
tokyo stock exchange get blockchain based
Nikkei Publication has reported that a new stock exchange is being developed by two of the top Asian financial institutions SBI Holdings and Sumitomo
Sponsored Links

Nikkei Publication has reported that a new stock exchange is being developed by two of the top Asian financial institutions, SBI Holdings and Sumitomo Mitsui Financial Group (SMFG) , on blockchain to rival the traditional and popular Tokyo Stock Exchange.

Tokyo Stock Exchange to get blockchain-based rival

According to the report, the new stock exchange would be launched in two years (2022) and it would be the first Japanese stock exchange to allow investors an opportunity to trade on digital securities via a blockchain. The blockchain would have an operator company known as Osaka Digital Exchange (ODX). SBI would have a majority holding of the company with 60% while SMFG would own the remaining part of the new company.

One advantage the blockchain-based exchange would have over Tokyo Stock Exchange is that it would be willing to take orders outside the business hours of the traditional stock exchange and it would also look to drastically reduce the minimum price pitch thereby giving room for more investors to operate in.

Not only that, ODX would also be depending on its autonomous trading system and its electronic-based trading platform to allow investors to have access to transactions that might be outside of the public exchange.

ODX will start trading digital securities in 2023

ODX would start trading digital securities a year after its launch. A founding partner of the firm, SBI believes that the digital security network provided by the exchange would allow investors to be able to seamlessly invest in non-traditional assets like real estate and others. In the long run, it is expected that the exchange would come to dominate this field.

SMBC Nikko Securities, a brokerage firm that is a subsidiary of SMFG, would direct some of its customer orders to this new exchange.

About the author

Eric Marriam is a young writer. Even though he is not experienced he is able to make really high quality work. Eric is able to identify a problem people have and break it down, able to appeal to emotion through emotive writing, can change style of writing to cater to different audience. Eric Marriam is able to work creatively and effectively with staff and managers and despite his young age, he proved to be a clear and effective writer and speaker, committed to maintaining quality and efficiency, seeking for professional growth and development.
You May Also Like