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Israeli Exchange Partners Blockchain Securities Platform in Lending

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Blockchain Technology Partners (BTP) announced its partnership with the Tel Aviv Stock Exchange (TASE) to ensure the production readiness of its distributed ledger technology-based securities lending platform. Once launched later this year, BTP will provide ongoing support for TASE’s Blockchain Securities Lending (BSL) platform.

In May 2018, TASE announced working on the creation of a BSL solution in partnership with Accenture and The Floor. As the country does not have a centralised securities lending platform, the BSL project is likely to allow the investors to leverage on large volume security trades in an economical and less time-consuming manner.

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 utilising 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.

TASE sees this partnership 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.

The exchange will reportedly create one central platform that enables direct lending among all the major financial instruments, designed as a “one-stop-shop” for all operations with securities lending and provide access to larger securities volumes in shorter terms.

Accenture will be working on the development of smart contracts on the platform that uses a blockchain to track and categorise transactions including holdings, receipts and settlements.

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