Securities Commission Can Keep Tabs on OTC Market Via Blockchain
Mi123 last edited by Mi123
A Securities Commission pilot project looks at utilising the Malaysian company Neuroware’s Cortex technology, a blockchain agnostic service that is able to work across different hosts of distributed ledger technologies without being tied to a specific ledger, will be utilised for the over-the-counter (OTC) markets.
OTC usually refers to companies that do not meet the listing requirements set by the Securities Commission, or also known as unlisted stocks and traditionally traded by brokers.
The regulator’s goal is for all transactions and market activities to be recorded and made available to all market participants, while transaction confidentiality is maintained.
Upon completion of this pilot project, the findings will be published as an industry blueprint.