Today the Australian Securities Exchange (ASX) announced it is delaying the switch to a new version of its clearing system, CHESS. For three years ASX has been working on a new Distributed Ledger Technology (DLT) version of CHESS with Digital Asset Holdings. Based on feedback following a consultation phase, the earliest launch date was pushed from Q4 2020 to March/April 2021.
Ledger Insights outlined details about the project
elsewhere.
The new system aims to improve record keeping by sharing data, thereby reducing risk, cost, and complexity. It should reduce the need for reconciliation and speed up transactions.
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