IBM and Santiago Exchange Deliver Securities Lending Blockchain Solution
IBM and Chile’s Santiago Exchange have announced a partnership to introduce blockchain technology across the country’s financial sector. The agreement makes the Santiago Exchange the first stock market in Latin America to apply IBM Blockchain technology within its short selling system for securities lending.
Built by IBM and Chile’s Santiago Exchange, the solution is designed to help reduce errors, possible fraud, and processing time for each transaction, whilst also improving transaction management and lowering costs. In the case of the Santiago Exchange, the solution will result in significant time savings for the back-office processes.