SDX adopts Digital Token Identifier standard for all its services
SIX Digital Exchange (SDX) has become the first private distributed ledger technology (DLT) based financial market infrastructure to adopt The Digital Token Identifier Foundation (DTIF) managed ISO 24165 DTI standard.
The financial industry is increasingly adopting the DTI ISO standard, a unique identifier for digital ledgers, tokens, and cryptocurrencies. Regulators can utilize DTIs to watch digital asset trades, ensure compliance with anti-money laundering and counter-terrorism financing requirements, and monitor risks associated with global stablecoins and other digital assets. Additionally, ESMA has recommended the DTI as a risk management measure within the European Union’s DLT Pilot program.
SDX integrates digital asset trading, settlement, and custody on a single and secure infrastructure (stock exchange and Central Security Depository). The uniqueness of SDX offering is the “atomic settlement”, whereby trade execution, transfer of securities, and payment synchronously take place. This single seamless workflow eliminates any settlement risks for SDX clients.
Alex Kech, Head of Digital Securities at SDX, states:
“SDX uses DTIs to identify currently crypto currencies and soon digital securities on our platform. The last will be even more critical as we start exploring issuance or administration of digital securities on private and public blockchains”.
Sassan Danesh, CEO of Etrading Software, said:
“We are delighted to issue a DTI to SDX’s DL and welcome SDX’s adoption of the DTIs in their platform. This is another important landmark for the industry to be able to identify digital assets in a standardized way.”