London Stock Exchange Discusses Blockchain Trading Venue Launch with Government: Report
Report suggests the London Stock Exchange Group (LSEG) is exploring a blockchain-based trading platform.
Murray Roos, the Group Head of Capital Markets at London Stock Exchange Group (LSEG), clarified in an interview with the Financial Times that the firm is not venturing into crypto assets. Instead, LSEG plans to leverage blockchain technology to streamline and enhance traditional asset trading.
"We aim to employ digital technology for a trading process that's more efficient, cost-effective, and transparent, all under a regulated framework," Roos stated.
LSEG operates the London Stock Exchange, one of the world's oldest and currently the ninth-largest global stock exchange. It boasts a total market capitalization of approximately $3.26 trillion from its listed companies, according to Yahoo! Finance data.
Further, Roos disclosed that LSEG is in conversations with UK regulators and those in other jurisdictions to introduce its blockchain-based trading venue by 2024. The ambition is to be the first major stock exchange to offer a fully functional blockchain-powered ecosystem for financial assets.
Roos elaborated on the long-term vision, saying, "Our ultimate aim is to establish a global platform where participants can interact across jurisdictions while fully complying with the laws, rules, and regulations of multiple jurisdictions—something unachievable in the traditional setup."
Sep 06, 2023
