The Australian Securities Exchange (ASX) which is working on a blockchain-based clearing and settlement system (CHESS), has released the first Customer Development Environment (CDE) for testing. ASX is the first mainstream exchange to adopt distributed ledger technology (DLT) for its clearing and settlement. Originally announced in 2016, the platform is on track to launch in March-April 2021.
This is just the initial version of the code with additional functionality to be added and released to customers in roughly eight-week intervals with a target of full functionality by mid-2020.
“It represents the first time market participants anywhere in the world can experience the benefits of ‘taking a node’ and establishing direct connectivity to a golden source record of real-time data via distributed ledger technology,” said Peter Hiom, ASX Deputy CEO.
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