ASX Says Yes: Securities Exchange Approves DLT Replacement of Post-Trade System

ASX Says Yes: Securities Exchange Approves DLT Replacement of Post-Trade System

The Australian Securities Exchange (ASX) has announced that it will replace its CHESS post-trade settlement system using technology developed by blockchain startup Digital Asset. After two years of building proofs of concept, working with potential users and testing the implementation , the much-anticipated decision represents a key milestone, as ASX is set to become the first mainstream exchange in the world migrate one of its core services to a blockchain-based system. Dominic Stevens, managing director and CEO of ASX, said in a statement: "We believe that using DLT to replace CHESS will enable our customers to develop new services […]

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