ASX blockchain roll-out on track, to explore other applications

Australian Securities Exchange Ltd (ASX) on Thursday announced its FY19 results in which it elaborated on the long-awaited CHESS replacement that uses distributed ledger technology (DLT) or blockchain. While the company reaffirmed its previous announcement of rolling out the DLT-based post-trade system by March 2021, it added that it has formed a DLT Solutions team. “Our DLT Solutions team is having a range of discussions about equity and non-equity related opportunities,” said CEO Dominic Stevens. “We are looking at other ways we can use our growing expertise to help customers identify how they might be able to benefit from using a distributed ledger.” More than 100 new staff have been hired in the last year, some of whom are supporting the new CHESS service. The CHESS replacement project, which ASX is running with help from US-based software firm Digital Asset (DA), is built using the Digital Asset Modelling Language (DAML). ASX is an investor in DA. Additionally, CHESS will use the ISO 20022 protocol, the messaging standard being adopted by the Reserve Bank of Australia (RBA) and other exchanges around the world.

Article continues …

---