The Australian Securities Exchange (ASX) will become the first central stock exchange to power its clearing and settlement system with blockchain technology.
The ASX has spent more than two years real-world testing the technology with multiple proofs of concepts and prototypes, in order to use blockchain in its after-trade infrastructure, an important phase for any stock exchange. The permissioned blockchain was developed by industry startup Digital Ass , and will be replacing the exchanges’ current Clearing House Electronic Subregister System (CHESS).
“We’ve given over 80 DLT system demonstrations to more than 500 attendees, and conducted over 60 CHESS replacement …
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