According to the World Federation of Exchanges, 84% of world’s trading venues and clearing counterparties are exploring or already implementing the distributed ledger.

WFE’s survey indicates that firms are at different stages of blockchain technology research. Seven of the respondents confirmed that they have already allocated budget for their distributed ledger initiatives. Another 13 exchanges said they expected to do so in the near future.

However, the companies quote the lack of legal clarity regarding the use of technology as a major problem. They also note that there is a number of risks that hinder the process of further research. Among the questions they raised are the issue of security of data within a decentralised database and concerns about blockchain scalability.

“Some respondents highlighted a lack of legal and regulatory clarity on some of these issues as amongst the largest risks associated with the adoption of DLT in the capital markets,” the WFE says.

WSE conducted the survey in July and August 2016 in partnership with the International Organization of Securities Commissions (IOSCO). The results of the poll will be used for a wider study of fintech and its application in the global markets, which is to be published later this year.

Lena Gabdullina