The
Australian Securities Exchange (ASX) is working with
Digital Asset on a blockchain replacement for its post-trade clearing and settlement system,
CHESS with a view to launching in 2021. Ten days ago Ledger Insights heard rumblings about pushback from members who aren’t convinced about the benefits. It turns out some of those players were sufficiently unhappy to commission a report from Deloitte.
The
Australian Financial Review (AFR) got hold of a copy of the report and noted that it might be of interest to the market regulators and the competition commission. Specifically, because Deloitte stated that “mechanisms to manage conflicts of interest and use of market power have not been addressed in a transparent manner.”
Market Power
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