ISA to Push for Digital Securities Platform

The Israeli Securities Authority (ISA) looks set to embrace Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology after recommending the promotion of a digital securities Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in Israel.

Reported by the Globes on Tuesday, the recommendations were made on an ISA draft report, which is scheduled to be published next week. The report was prepared following the work of the ISA-appointed committee to promote and institutionalize digital markets in Israel.

The committee is bullish on the application of the decade-old technology and believes that it has the “potential for advancement in the Israeli capital market.”

Commenting on the committee’s findings, Orly Koren, deputy director at ISA’s supervision department and head of the committee, told the publication: “The committee focused in its work on digital platforms for offerings, trading, and clearance of securities using distributed ledger technology [DLT].”

Encouraging companies in the industry

Along with the publication of the report, the agency will also put out a call to the companies working in the industry for the establishment of a digital securities trading platform.

“We invite the public to raise regulatory issues concerning the promotion of markets using innovative technology, particularly issues that they believe are likely to constitute an obstacle to development of this sector in Israel,” the agency stated.

The study by the committee also took into consideration the regulatory challenges on the sector and recommended the ISA for a neutral approach. However, it also emphasized that the technology of the companies should meet some “required standards,” which include mandatory rules for anti-money laundering, protection of customers, and stability risks.

Tel Aviv is already a hotbed for technology companies, and now many blockchain companies are also spawning in the area. According to a survey by the Israeli Bitcoin Association, the number of blockchain companies in the country saw an annual surge of 32 percent by the end of 2019.

Meanwhile, an Israeli decentralized collateral management firm recently raised $2.5 million in a seed funding round, Finance Magnates reported.