BME’s central securities depository, Iberclear, is preparing to launch a Distributed Ledger Technology (DLT) trading and settlement platform under the EU’s DLT Pilot Regime. The platform, expected to be operational by 2025, will allow Iberclear to combine trading and settlement functions using blockchain technology, a first for BME and a significant step in modernising its financial market infrastructure.
The EU’s DLT Pilot Regime aims to test blockchain technology within regulated financial markets, offering participants the chance to explore new systems under controlled conditions. Iberclear’s platform will go beyond previous approvals under the regime, such as the Prague CSD’s settlement-only authorisation, by integrating both trading and settlement processes. According to a SIX press release, this positions Iberclear as a key player in exploring blockchain’s potential to streamline and improve the efficiency of financial transactions.
Supporting broader blockchain initiatives
The DLT platform will also serve as the backbone for BME’s work with OpenBrick, a Spanish startup focused on tokenised real estate securities. Iberclear will handle the trading and settlement of transactions initiated on OpenBrick’s blockchain-based platform, providing the necessary infrastructure to support its operations.
This move forms part of a larger strategy by BME’s owner, SIX, to expand its presence in the digital asset space. SIX already operates the SIX Digital Exchange (SDX), a regulated platform for digital securities, and is involved in blockchain initiatives such as the Swiss National Bank’s wholesale central bank digital currency pilot. Iberclear’s upcoming platform will integrate with these efforts to strengthen SIX’s position in blockchain-driven financial markets.
