The parent company of the stock market announced codes for 169 digital assets. Bitcoin will be part of the SEDOL information service with the financial code BMFH7T7.
The parent company of the London Stock Exchange added 169 cryptocurrencies and tokens to its financial instrument coding service, SEDOL Masterfile. The market, one of the largest in Europe, grouped assets into three categories: digital currencies, digital platforms, and security tokens.
The group highlighted that the incorporation occurred to adopt unique coding within the financial ecosystem. The intention is for operators to become familiar with digital assets as they continue to develop.
The codes on the official SEDOL list are seven alphanumeric characters, which the assets listed on the London Stock Exchange receive. There is a close equivalent in the CUSIP system of the United States and Canada.
Bitcoin leads the preliminary list, not yet officially published, with the code BMFH7T7 and is part of the group of digital currencies (XA). In this category there are up to 39 cryptocurrencies, also including Bitcoin Cash (BMFH7V9), DAI (BMFHBN9), Dash (BMFHBP1), Litecoin (BMFHCZ8), Monero (BMFHDB1), Tether (BMFHG45), Zcash (BMFHGN4), Dogecoin (BMFHBY0), XRP (BMFHGM3), and Stellar (BMFHFW6).
Regarding digital platforms (XB), the organization highlighted the grouping of assets that provide a means to create smart contracts. In this segment, there are 110 coins or tokens, among which are Ether (BMFHC58), Aeternity (BMFH7G4), Basic Attention Token (BMFH7R5), Cardano (BMFH8D8), Lisk (BMFHCY7), Ethereum Classic (BMFHC69), Waves (BMFHGJ0), Steem (BMFHFV5), NEM (BMFHDH7), and EOS (BMFHC47).
Concerning security tokens (XC), these assets are financial instruments in which decentralized properties are applied to financial contracts. The list includes 20 projects, among which the most prominent are Aragon (BMFHK65), Decred (BMFHBR3), Maker (BMFHD33), Stratis (BMFHFZ9), and Peercoin (BMFHDW2).
Among the aspects that draw attention on the list, the first is that there is no clear distinction between digital platforms with their blockchain and the tokens built on them. For example, the Ethereum smart contract network is in the same category as AirSwap, Augur, Bancor, and Storj, both of which depend on the Ethereum blockchain.
Another detail about the Decred project is that the group considers it as a security token, but Dash, which is a similar project, is among digital currencies. Besides, they consider that stablecoin Tether is a digital currency but without differentiating it from its various versions. It is also curious that DAI is in the same category as Bitcoin.
James Nevin, head of data solutions at the London Stock Exchange Group, stated that the identifiers given to cryptocurrencies and tokens will facilitate their processing when operators conduct transactions.
The 169 assets on the list are now part of a financial information service that covers more than 100 million assets. The list was the result of joint work with the Digital Asset Research company.
The inclusion of Bitcoin and the rest of the 168 cryptocurrencies in the SEDOL system is a significant fact of adoption in the world of finance. For example, the decision puts them on a par with stock, bond, and derivative trading.
By Willmen Blanco