Blockchain Technology Partners to partner with Tel Aviv Stock Exchange to ready its groundbreaking Blockchain Securities Lending platform for production
After exhaustive acceptance testing Blockchain Securities Lending platform is now undergoing trials with market participants ahead of its launch later this year
TEL AVIV — February 10, 2020— Fintech Week 2020 — Blockchain Technology Partners (BTP), the leading enterprise blockchain company, today announced its partnership with the Tel Aviv Stock Exchange (TASE) to ensure the production readiness of its Blockchain Securities Lending (BSL) platform and provide ongoing support for this once it is launched.
At present securities lending in Israel is fragmented, inefficient and opaque. TASE sees this as a market opportunity and its BSL platform is designed to address these issues by enabling direct lending among all the major financial participants; and offering a one-stop-shop for all securities lending activities, permitting access to larger securities volumes within shorter timeframes, even operating in shorter-term positions.
“When we set out on this journey with Accenture, Intel and The Floor our goal was to harness the power of cutting-edge blockchain technology to transform the Securities Lending market in Israel by creating a distributed service available to all our market participants in order to increase the volume of the market and make it available for more players in the market,” said Uri Shavit, EVP, Chief Information Officer, Tel Aviv Stock Exchange. “With today’s announcement, there is now a clear path to achieving this goal and taking our BSL Proof of Concept (PoC) forward into production with the help of our delivery partner BTP.”
BSL is a trading platform built on Hyperledger Sawtooth — an open source enterprise blockchain network — that delivers all the benefits of a distributed ledger while utilizing Intel® Software Guard Extensions (Intel® SGX) technology to help maintain data privacy so that the details of an individual transaction are only visible to its participants.
“Having identified Hyperledger Sawtooth as one of the best emerging open source blockchain technologies for the enterprise, we were delighted to be introduced to TASE by Intel as our mission is to make it easier for companies like TASE to realise their vision by providing them with Sextant, our management platform that comprises both our production grade Sawtooth distribution and the tools to deploy and manage this distribution on Kubernetes in production,” said Duncan Johnston-Watt, CEO, Blockchain Technology Partners. “However, what is really exciting for us is the partnership that we have forged with the TASE team as we’ve worked together on acceptance testing over the past few months. As a result of this collaboration both BSL and our distribution of Sawtooth have been significantly improved with changes to the latter being contributed upstream.”
With the acceptance testing now firmly in their rear-view mirror, BTP and TASE are moving forward with a comprehensive production readiness program that covers governance, operations, security, support and user acceptance testing in preparation for the launch of the BSL platform later this year.
“Given our background in financial services we could immediately see the parallels with work we’d done in the past delivering trading systems,” added Kevin O’Donnell, CTO, Blockchain Technology Partners. “While technology is constantly evolving the ability to address the operational challenges of delivering and maintaining a stable production environment is just as important now as it was when we first started out and is part of our DNA.”
About Blockchain Technology Partners
Founded in 2018, Blockchain Technology Partners (BTP) is a leading enterprise blockchain company. BTP brings the benefits of smart contracts and blockchain to business by providing Sextant — a management platform that radically simplifies the deployment and ongoing management of distributed applications.
Sextant for Sawtooth uses a BTP certified distribution of Hyperledger Sawtooth to deliver one-click deployment of Sawtooth networks on Kubernetes on-prem, in the cloud or both. Sextant for DAML, developed in partnership with Digital Asset, delivers one-click deployment of DAML, the leading smart contract language, on Hyperledger Sawtooth as well as Amazon QLDB and Aurora. To learn more visit https://blockchaintp.com.
About the Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange (TASE) was established in Israel in September 1953. TASE plays a central role in the Israeli economy and provides a market infrastructure that is central to the economy’s growth. As TASE is the only securities exchange in Israel, where access is protected by high barriers to entry in terms of regulation and the need for reliable technological infrastructure, Israeli companies and the Israeli government rely on TASE’s markets for capital and liquidity.
TASE provides markets for the listing and trading of a vast range of securities and derivative instruments. These include shares, corporate bonds, government bonds, Treasury bills, ETFs, convertible securities, single stock options, options and futures on equity indices, and options and futures on foreign currency exchange rates. Trading is fully automated, order-driven, real-time and continuous through our sophisticated Tel Aviv Continuous Trading “TACT” system. Further information is available here.
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