Copy link
Increase text size
Decrease text size
Link copied

ASX opens testing center for blockchain-based post-trade system

Tue, 07 May 2019, 10:01 am UTC

The Australian Securities Exchange (ASX) has opened a new Customer Development Environment (CDE) as part of its efforts to replace Clearing House Electronic Subregister System (CHESS) with a blockchain-based system.

The CDE will allow customers to interact and experiment with the new system. They would be able to design, build and test system changes, access some of the new business functionality, and compare various access options.

Cliff Richards, ASX’s Executive General Manger Equity Post-Trade Services, said that the CDE launch is a major step forward in ASX’s CHESS replacement journey.

“We are proud of this achievement and very grateful for the support of our partner Digital Asset and our customers. While we believe distributed ledger technology offers exciting opportunities for the whole market to innovate, there is much still to do,” he said. “We continue to work closely with our customers as we progress towards delivery of the new system."

According to a press release published today, the first of seven ‘drops’ of software code was made available to customers on April 30. ASX said that additional functionality will be released at approximately eight-week intervals, culminating in full functionality in the CDE by mid-2020.

Customers can connect to the new system directly via a DLT node, which will provide access to real-time, synchronised, source-of-truth data. Other access options, including the ISO 20022 global messaging standard via AMQP and SWIFT, and a web browser for low volume, infrequent usage, are also available, ASX said.

Last September, ASX postponed the deadline for its transition to the blockchain-based system by six months, and was targeting March-April 2021 for its earliest commencement. In its latest announcement, it said that it is “on-track to go-live with the new DLT-based system in March-April 2021.”

“We know our progress is being watched internationally and is an important bellwether for the technology's adoption”, said Peter Hiom, ASX Deputy CEO. “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.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,938.88 (+2.65%)
  • Ethereum (ETH) $280.57 (+8.76%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $415.94 (+3.36%)
  • Bitcoin SV (BSV) $306.27 (-0.20%)
  • Bitcoin (BTC) $9,938.88 (+2.65%)
Feb 18, 2020 (Tuesday)
13:26
Enjin’s game development platform goes live on ethereum
12:14
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:14
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:13
Boerse Stuttgart's blocknox to offer crypto custody services to institutional clients
11:12
Crypto derivatives exchange Deribit lists daily ether options
10:48
UEFA EURO 2020 tickets to be distributed using blockchain-based ticketing system
10:12
South Korean and Singaporean crypto exchanges partner to develop new services
09:42
Russian central bank completes blockchain tokenization pilot in its regulatory sandbox
08:17
Crypto Technicals: ETH/USD retraces brief dip below 200H MA, close above 5-DMA to see upside resumption
08:16
Crypto exchange FCoin likely to default after up to $130M bitcoin shortfall
06:46
France-based Lagardère Sports partners with blockchain-based fan engagement platform Chiliz
05:36
Binance launches cloud solution to simplify launching cryptocurrency exchanges
04:52
Crypto Technicals: BTC/USD hovers around 21-EMA (9690), potential 'Golden Cross' limits downside
04:51
Telecom giants jointly test blockchain solution for automating roaming discount agreements
Feb 17, 2020 (Monday)
13:34
Fullerton Markets adds support for cryptocurrency deposits and withdrawals
13:02
Crypto asset custodian Copper raises $8M in Series A round
12:06
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:05
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:58
CFTC sues Colorado resident with fraud in crypto-related Ponzi scheme
11:22
Crypto Technicals: ETH/USD slips below 5-DMA, 'Golden Cross' to limit downside
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft