Markets

Korean Exchange Operator Intends Using Blockchain Tech for Off-Board Market

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The Korea Exchange (KRX) said this week that it plans creating a blockchain technology platform to enhance the country’s off-board trading market, according to a report in the Korean Times.

KRX reports that it has begun “preliminary steps” to setting up a blockchain platform linking sellers and buyers for trading equities directly.

An official said that KRX believes that such a platform will help off-board dealers to trade more easily by reducing costs in finding trading partners.

Currently, off-board or after-hours trading is conducted through securities firms or directly between dealers. The size of the Korean off-board market is apparently more than 56 trillion won. The new platform will initially be introduced for non-listed securities, which are widely exchanged between dealers.

Hans Lombardo
Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at internet.com, Internet World magazine, and Mecklermedia Corporation.