Canadian Securities Exchange Announces Plans for Blockchain based Trading Platform
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The Canadian Securities Exchange has announced on February 13, 2018, that it plans to launch a blockchain–based trading and clearing platform. It also signed a Memorandum Of Understanding (MOU) with Kabuni Technologies Inc., a private company based in Vancouver, British Columbia for a first-of-its-kind security exchange token offering. The platform will enable companies who wish to be listed on the exchange to raise both equity and debt through tokenized securities. Such offerings to prospective investors will be labeled “Security Token Offerings.” They are notably unlike traditional ICOs and will instead be subject to complete regulation and thorough scrutiny by securities commissioners. The benefit of having a blockchain-based securities exchange will be the real-time settling and clearing of trades placed by investors on the platform. Presently, when an order is placed, the broker then places their bid at the exchange to find the best match for the order to be successfully executed. Often, the order does not match with current trading market prices or gets carried to the next trading session if it cannot be cleared and executed within that day. Different exchanges around the globe have a time limit for the execution of each order. If the exchange fails to clear a trade after this limit, the order is simply rejected, and the trader is notified. All of this leads to a great deal of delay in the clearing process at any traditional stock exchange.
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