SIX Digital Exchange(SDX), a wholly owned subsidiary of SIX, Switzerland’s Stock Exchange Group and Financial Market Infrastructure [FMI], has partnered with daura, a Swiss equity tokenisation platform.
The collaboration will enable companies on daura to issue digital equity securities in SDX’s regulated Central Securities Depository (CSD) as well as access secondary liquidity, while managing their share registry and cap table via consolidated workflow
SIX has been a strategic investor in daura since 2019. The platform has seen fifty-five Swiss companies tokenise their shares and raise over CHF 17 million from a community of 3,900 registered users.
By co-ordinating processes across all involved parties, SDX said it will offer companies enhanced investor visibility, and reduced time to market. It noted this is made possible through the fact that records in distributed ledger technology are irreversible.
It added that enterprises will have greater control of their cap table and related corporate activities, including organising digital shareholders meetings and sharing confidential information in a secure environment.
“This partnership with daura, represents a milestone shift in the way our industry functions,” says David Hatton, head of product at SIX Digital Exchange. “This approach builds on the relationship strengths of an organisation like daura – where the digital securities are issued – and the separate, trusted and regulated strengths of SDX as a digital market infrastructure.
He adds, “This is another major step in establishing and developing the future ecosystem for the issuance, custody, and transfer of securities in private markets. We plan many more such partnerships as we build out our ecosystem.”
Peter Schnürer, CEO at daura, notes: “With this partnership between SDX and daura, we are adding another building block to the Swiss Digital Asset ecosystem: with SDX’s central custodian service and daura’s digital share register, a seamless end-to-end integration of SME and start-up shares into the banking system will be possible.”
According to David Newns, head of SDX, “The expansion of our equity ecosystem aims at establishing a robust infrastructure that supports companies on their funding journey from an early stage to IPO. By combining DLT capabilities within a regulated exchange and CSD environment, SDX will provide a safe and trustworthy venue for these assets enabling institutional investors to securely invest in them.”
©Markets Media Europe 2022
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