Switzerland’s Financial Market Supervisory Authority (FINMA) has licensed the first DLT trading facility to date.
The DLT trading facility operated by BX Digital allows DLT securities to be traded. The licence was granted on the basis of the DLT Act.
BX Digital AG, a sister company of the BX Swiss AG exchange and part of the Boerse Stuttgart Group, has been licensed by FINMA as the first DLT trading facility. Licensing is governed by the Financial Market Infrastructure Act (FinMIA) and permits the multilateral trading of DLT securities. BX Digital intends to offer settlement services downstream of trading. The offer is only aimed at supervised participants, usually banks. BX Digital does not offer custody of DLT securities.
BX Digital applied to FINMA for the operation of a small DLT trading facility, meaning that certain thresholds defined in the Ordinance to the Financial Market Supervision Act (FinMIO) may not be…
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