SDX sets industry standard with the adoption of the Digital Token Identifier standard for all its services

ZURICH, Aug. 21, 2023 /PRNewswire/ -- SDX becomes the first private distributed ledger technology (DLT) based financial market infrastructure to adopt The Digital Token Identifier Foundation (DTIF) managed ISO 24165 DTI standard.

The financial industry is increasingly adopting the DTI ISO standard, a unique identifier for digital ledgers, tokens, and cryptocurrencies. Regulators can utilize DTIs to watch digital asset trades, ensure compliance with anti-money laundering and counter-terrorism financing requirements, and monitor risks associated with global stablecoins and other digital assets. Additionally, ESMA has recommended the DTI as a risk management measure within the European Union's DLT Pilot program.

SDX integrates digital asset trading, settlement, and custody on a single and secure infrastructure (stock exchange and Central Security Depository). The uniqueness of SDX offering is the "atomic settlement", whereby trade execution, transfer of securities, and payment synchronously take place. This single seamless workflow eliminates any settlement risks for SDX clients. Alex Kech, Head of Digital Securities at SDX, states, "SDX uses DTIs to identify currently crypto currencies and soon digital securities on our platform. The last will be even more critical as we start exploring issuance or administration of digital securities on private and public blockchains".

Sassan Danesh, CEO of Etrading Software, said, "We are delighted to issue a DTI to SDX's DL and welcome SDX's adoption of the DTIs in their platform. This is another important landmark for the industry to be able to identify digital assets in a standardized way." 

Whereas the digital assets industry enters a new chapter of its evolution, one driven by a commitment to excellence, transparency, and accountability, SDX proactively takes innovative steps to meet emerging market standards. As David Newns, Head of SIX Digital Exchange, highlights, "Being a part of SIX, SDX understands the importance of customer protection and a clear governance framework and advocates for transparent market regulations in the digital asset space."

About SDX 

SIX Digital Exchange (SDX) is the first fully regulated financial market infrastructure (FMI) for the issuance, trading, settlement, and custody of digital assets. SDX is a licensed operator of a stock exchange and central security depository (CSD) on distributed ledger technology (DLT). As part of SIX, SDX is subject to the company's high quality and security standards covered under Swiss law. 

About The Digital Token Identifier Foundation 

The Digital Token Identifier Foundation (DTIF) is a non-profit division of Etrading Software (ETS), a financial technology firm with a mission of solving market-wide problems by building market infrastructures for the new digital economy. DTIF's mission is to provide the golden source reference data for the unique identification of digital tokens based on ISO's new standard for digital assets, ISO 24165. The DTI Foundation has already issued ISO identification codes for over 1,400 of the most commonly traded digital assets, with more codes being added each day.

SOURCE SIX Digital Exchange