Greek stock exchange to deploy EBB tech on Sui blockchain

  • The Greek stock exchange ATHEX plans to introduce electronic book building (EBB) technology on the Sui blockchain ecosystem, aiming to enhance efficiency.
  • Sui blockchain, renowned for its rapid smart contract execution and transaction speeds, forms the underlying infrastructure for the EBB collaboration between ATHEX and Mysten Labs.
  • ATHEX’s EBB initiative facilitates the listing of tradable securities for companies of all stages, promising enhanced security and transparency through blockchain integration.

The Greek stock exchange, Athens Exchange Group (ATHEX), declared that it may introduce electronic book building (EBB), a new technology, on the Sui blockchain ecosystem.

Sui ecosystem supports ATHEX

The EBB serves as a fundraising mechanism integrated directly into the trading order routing system, leveraging blockchain technology to enhance liquidity for companies seeking capital.

The Sui blockchain network is a Layer-1 blockchain specialising in quick smart contract implementation and fast transaction times. It serves as the foundational blockchain protocol for the network.

The EBB will be built in cooperation between the Athens Exchange Group (ATHEX) and Mysten Labs, the original developer of the Sui ecosystem, according to a March 6 blog post from Sui.

Also read: UAE Starts Carbon Credit System, Built on Blockchain Technology

EBB initiative opens doors for companies to trade

ATHEX’s EBB initiative enables both early-stage and mature companies to list tradable securities. Companies at various stages of development can make their securities available for trading on the ATHEX platform, allowing investors to buy and sell these securities in the market.

According to Sui’s post, “In this form, they would be protected by strong security and transferable, with a transparent chain of custody.”

EBB would be implemented on top of the present trade order routing system on ATHEX as a blockchain-based “meta-layer.” The blog post claimed that the technology would provide liquidity for firms wishing to raise capital for their business plans.

The announcement stated that the project collaboration is currently undergoing evaluation, contingent upon performance and ATHEX’s decision to adopt blockchain technology as the hosting platform for its new tool.

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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