ASX launches ‘DLT Solutions’ team to bring blockchain to customers

ASX Limited, the operator of the Australian Securities Exchange, has established a ‘DLT Solutions’ team that it says will use its experience of implementing blockchain-inspired distributed ledger technology to help its customers.

ASX is in the process of rolling out a DLT-based system to replace CHESS: The Clearing House Electronic Subregister System, which was originally implemented in 1994.

CHESS provides clearing, settlement, and asset registration services for market participants. The system is written in COBOL and employs proprietary message formats for communication.

The CHESS replacement, which is expected to go live in 2021, is based on DLT software from Digital Asset Holdings (ASX is a part-owner of DAH).

ASX expects the new system to help cut costs and reduce the potential for errors, giving market participants the option of running a DLT node that is “part of the source of truth database held by ASX” instead of operating and reconciling multiple databases.

To read more, please click on the link below…

Source: ASX launches ‘DLT Solutions’ team to bring blockchain to customers – Computerworld