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IBM's blockchain tech to power large stock exchange in Chile

Thursday 18 May 2017 | 10:59 AM CET

IBM has teamed up with the Santiago Stock Exchange to incorporate a blockchain-based securities lending solution.

The new tool will help enable Chile's securities lenders, banks, stock exchanges, institutional clients and regulators, to exchange information, while reducing the time it takes for relevant back-office processes by 40%, IBM said for CoindDesk.

The system aims to track collateral relationships and will be implemented by the end of 2017. Over the next three-to-six months the blockchain-based system will be running in parallel with its existing system, with the goal of migrating the process completely to a distributed ledger in 2018, to build a larger ecosystem around the project.

Currently, the Santiago Stock Exchange trades online stocks with other exchanges in countries like Peru and Mexico, and processes involved in stock trading could begin to become more automated via DLT systems.

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