Spain’s Securities Market Watchdog Completes Blockchain Test

Spain’s securities markets regulator and a gathering of monetary foundations including Banco Santander have finished a blockchain pilot aimed at testing the tech for enlisting stock warrant issuances.

The year-long Fast Track Listing (FTL) venture saw interest from the Spanish National Securities Market Commission (CNMV) and also banks, for example, Banco Santander, BBVA, BNP Paribas, CaixaBank, Commerzbank and Société Générale.

The thought is that mutual databases can be utilized to all the more successfully enroll data about the issuance of warrants – contracts bearing the privilege to buy new offers at a specific cost before they lapse – and channel that information to all gatherings. As indicated by Banco Santander, the pilot demonstrated that an opportunity to enroll a warrant issuance was cut by in excess of 70 percent utilizing the pilot stage.

Beginning outcomes from the test were promising, the gathering demonstrated, setting the phase for additionally proofs-of-idea around the innovation.

According to the statements,

“After obtaining such good results, CNMV has decided to continue exploring the possible uses of this technology in its processes and carry on with the project. BME and all the national warrant issuers (BBVA, Caixabank and Banco Santander), as well as international warrant issuers (BNP Paribas, Commerzbank, and Société Générale), are also actively contributing to this project.”


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