On May 17, technology giant IBM and Chile’s largest stock exchange, the Santiago Exchange, announced a partnership to implement blockchain technology into the nation’s financial services sector. The collaboration makes the Santiago Stock Exchange the first exchange in South America to utilize blockchain technology for securities lending on its short selling platform.
The new solution built by IBM and the Santiago Stock Exchange has been designed to reduce errors, alleviate potential fraud and increase processing speed for transactions while also improving the transaction management process and lowering costs for the exchange.
The blockchain’s ability to securely record, store and transfer data allows it to be implemented into a wide range of processes, which makes securities trading and settlement an ideal area where the distributed ledger technology can be applied. For that reason, several exchanges across the world
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