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Israel's Stock Exchange Says It Is Launching a Blockchain Platform for Securities Lending
The new blockchain platform can facilitate peer-to-peer trading and allow the securities lending market to reach its full potential, the exchange said.
By Paddy Baker
Updated Sep 14, 2021, 9:36 a.m. Published Jul 28, 2020, 9:35 a.m.
CORRECTION (July 28, 13:35 UTC): An earlier version of this article misstated the timing of the platform launch. TASE said it expects to go live Nov. 2; it has not done so yet. The earlier version also misplaced Tel Aviv, which is in central Israel, not the north.
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The Tel Aviv Stock Exchange (TASE) has said it is launching a new blockchain platform that it claims will become the "one-stop-shop" for lending securities in the country.
- TASE said Monday the Central Blockchain Securities Lending Platform will provide a single national market where Israeli institutions can lend securities directly to one another
- The platform is set to go live on Nov. 2.
- Based in the city of Tel Aviv, TASE is the only public stock exchange in Israel.
- Blockchain facilitates peer-to-peer trading and escrow all with near-guaranteed immutability, the exchange said in a statement.
- Not only does the new platform give traders greater flexibility and versatility, but it can also cut costs and enhance security, it added.
- This replaces a complicated and disjointed lending system and allows the securities lending market to reach its full potential, TASE concluded.
- The blockchain securities lending system has been in the testing phase since March 2020.
See also: ASX Under Pressure to Further Delay Rollout of DLT Settlement System
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