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ARTICLE · 12 DECEMBER 2017

Australian Securities Exchange Announces Decision To Implement Blockchain-Based Clearing And Settlement System

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Blockchain advocates have been awaiting the final decision by ASX Ltd, the Australian Securities Exchange, as to whether ASX will replace its existing and aged CHESS registry, settlement...

AustraliaCorporate/Commercial Law
Jeffrey Neuburger
Jeffrey Neuburger
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Blockchain advocates have been awaiting the final decision by ASX Ltd, the Australian Securities Exchange, as to whether ASX will replace its existing and aged CHESS registry, settlement and clearing system with a blockchain-based system that ASX has been developing and testing for the last two years.  Today, ASX announced that it will go ahead with its plan to move to the new blockchain system, as it believes that adopting it will result in significant savings of back-office costs for all involved parties.  At the end of March 2018, ASX reportedly plans to release for market feedback details regarding the launch functionality of the system and the timetable for its implementation, with the final launch date to be determined.

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