Sydney exchange creates small cap platform

The platform, which is being developed through a joint venture with technical consultancy Bit Trade Labs, aims to leverage real-time transaction processing to offer lower fees, increased trade velocity and improved control for brokers and other market participants. According to a statement, the stock exchange will implement the system for its private markets network within months before a rollout on its equities market in 2018.

"Our partnership with, and support of, a company such as Bit Trade Labs and the blockchain development both align well with our ongoing domestic focus upon listing Australia's start-ups and innovation companies," said David Lawrence, SSX's chief operating officer. "We believe there is a very real place for start-ups and innovators in Australian public capital markets and SSX is ideally positioned to fill the growing capital void."

Blockchain technology has proliferated in the virtual currency sector as a means of securing digital financial distributions via a decentralized database. This process validates transfers by authenticating a chain of timestamped units of data that increases in complexity with each transaction.

SSX was granted a stock exchange license in 2004 and was acquired in 2008 by AIMS Financial Group, an Australian financial services company and fund manager with offices in China, Hong Kong and Singapore. It focuses on growth-oriented companies with a mandate to bridge Asian and Australian capital markets. This strategy includes plans to develop a Chinese renminbi board to promote cross-border investment for SSX-listed companies.

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• Topics
• Australasia
• Early-stage
• IPO
• Australia
• Exit
• IPO
• Venture