The SSE (Shanghai Stock Exchange) and SZSE (Shenzhen Stock Exchange) have separately announced plans to test blockchain in equity markets.

According to Shanghai Securities News, the SSE held a press conference last week to unveil “significant progress” in its blockchain construction project.

Approved by the CSRC (China Securities Regulatory Commission), the SSE said it was planning to test pilot trading on a blockchain platform developed by the Suzhou Tongji Blockchain Research Institute, a joint venture between the Suzhou government and Tongji University.

The platform is said to shorten business processes harmonise inconsistent standards in the capital market, while also reducing costs, enhancing market supervision functions.

Separately, the SZSE has said in a statement that one of its subsidiaries (Shenzhen Securities Communication), in conjunction with Beijing Equity Trading Centre, has created a new blockchain-based registration and custody system for the Beijing Regional Equity Market.

The system is expected to reduce the cost of information asymmetry in the Bejing regional market, standardise corporate equity management, and enhance the role of equity market financing for unlisted private companies.



(Excerpt) Read more Here | 2020-10-04 18:28:30
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