Greek stock exchange ATHEX began evaluating deployment of its Electronic Book Building (EBB) feature to Sui, the first stock exchange to develop this technology in partnership with a blockchain company. Athens Exchange Group, the company behind ATHEX, will work with Mysten Labs, Sui's original contributor, to develop the technology.
EBB, a fund-raising feature of ATHEX, lets early stage and mature companies list transferable securities. As a meta-layer over ATHEX's existing trading order routing system, EBB offers liquidity for business proposals of companies seeking funds.
For its part, Sui could host ATHEX securities minted as digital certificates. In this form they would be protected by strong security and transferable, with a transparent chain of custody. Although blockchain technology seems a natural fit for stock market mechanisms such as EBB, this deployment would be the first of its kind.
Sui's ability to scale and process transactions in parallel, reaching industry-leading throughput, offers ATHEX the performance it requires to serve its customers.
In addition, decentralized infrastructure, such as Sui and the Internet as a whole, are resistant to outages due to the multitude of nodes supporting the network. If a few nodes fail, transactions can still be processed by the remaining nodes. This type of resilience ensures that ATHEX's users will not be subject to outages that could affect their investments.
At this time, the project is only in an evaluation phase, and will depend on its performance and ATHEX's willingness to host an important feature on blockchain technology.
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