SDX
Atomic Settlement (DvP)
Atomic settlement enables simultaneous, irreversible delivery of securities and payment (DvP) on a distributed ledger, eliminating the settlement risk inherent in T+2 markets.
DLT Act (Swiss Federal DLT Legislation)
Switzerland's DLT Act (February 2021) introduced ledger-based securities and a new DLT Trading Facility licence, positioning Switzerland as a leading tokenization hub.
DvP Settlement (Delivery versus Payment): Atomic Settlement in Tokenized Markets
Delivery versus Payment (DvP) is the settlement principle requiring simultaneous exchange of securities and cash. DLT enables atomic DvP — settling in a single indivisible transaction — eliminating the counterparty risk inherent in conventional T+2 settlement.
FINMA: Swiss Financial Market Supervision for Digital Assets
FINMA issued landmark 2018 ICO guidelines classifying payment, utility, and asset tokens; licensed SDX as the world's first DLT Trading Facility; and oversees 14+ fintech license holders with CHF 100M deposit cap.
Securities Tokenization: Equity, Bond, and Fund Compliance
Compliance architecture for tokenized equities, bonds ($10.2B+ issued), and funds including UCITS/AIFs—covering Securitize, Tokeny, SDX platforms and regulatory frameworks.
SIX Digital Exchange (SDX): The World's First Regulated Digital Securities Exchange
SDX holds the world's first FINMA DLT Trading Facility license, operates on R3 Corda, and settled the World Bank's CHF 200M digital bond with atomic DvP on a T+0 basis.
Swiss DLT Act 2021: DLT Trading Facilities and Ledger-Based Securities
Switzerland's DLT Act — effective August 2021 — created the world's first DLT Trading Facility license and introduced ledger-based securities (Registerwertrechte) as a new category of Swiss law securities enforceable on-chain.
Switzerland Tokenization Regulation: DLT Act, FINMA, and the Crypto Valley Advantage
Switzerland DLT Act (2021), FINMA token classification, DLT Trading Facility licensing, fintech license, Crypto Valley Zug, FinSA/FinIA compliance for tokenized assets.