Blockchain
technology is primarily associated with cryptocurrencies, but its applications
seem to be limitless. The London Stock Exchange Group (LSEG) has decided to tap
into the potential of distributed ledger technology as it prepares to launch a
new business arm focused on digital markets. The company claims it will be the
first major exchange to offer trading in traditional financial instruments
using blockchain technology.
The news
was first reported by Financial Times, which spoke with Murray Roos, the
Head of Capital Markets at the LSE Group. According to the conversation, the
company has tested various blockchain trading solutions for over a year. Julia
Hoggett, the Head of the London Stock Exchange, has been asked to lead the new
project.
LSEG’s
offering will not be related to cryptocurrencies. Instead, it aims to use
blockchain technology to improve key features associated with trading
traditional investment products.
“The
idea is to use digital technology to make a process that is slicker, smoother,
cheaper, and more transparent and to have it regulated,” Roos said in a
conversation with the Financial Times.
Although
there are already several solutions in the market that utilize blockchain for
trading, LSEG claims that none…
