Monday August 22 2016
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Country: Australia
Link: http://www.asx.com.au/documents/investor-relations/2016AnnualReport.pdf
Australia’s largest Stock Exchange, the Australian Securities Exchange (ASX), recently published its Annual Report, revealing the company`s progress and near-future plans for its blockchain, or Distributed Ledger Technology (DLT), projects.
The company announced in January that it was going to develop solutions for the Australian equity market using blockchain technology.
The exchange has now completed the initial phase of its DLT testing, and their blockchain prototype has “met performance, security and scalability thresholds.” The same technology is now being developed as a potential system to replace its 20-year-old clearing and settlement system.
The current system used by ASX for clearing and settlement services is the Clearing House Electronic Subregister System (CHESS). In addition to providing clearing and settlement, CHESS also electronically registers the share ownership on its secured sub register.
The final decision on the company`s post-trade infrastructure will be made in 2017. Only then will a blockchain solution progress into full production. If and when that decision is made, the company will start building its “industrial strength platform that could replace CHESS.”
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