The Australian Securities Exchange is investing in more than just blockchain

The Australian Securities Exchange (ASX) is building the world’s first actual industrial-scale blockchain use case — a new post-trade solution to replace its legacy Clearing House Electronic Subregister System (CHESS) platform, which has been running for around 25 years.

The project has global traction, with ASX CEO Dominic Stevens saying during the organisation’s first-half results call on Thursday that the first question he’s asked when overseas on business has always been about CHESS.

“The intensity of interest has only increased over the last year,” he added.

The system is ready for industry-wide testing in July, but the ASX is working on more than just CHESS. According to Stevens, the “ASX has never been busier”.

“We’re making long term investments in the future of our core underlying franchise by improving the management of enterprise risk, enhancing our risk culture, and we’re undertaking a significant contemporisation of the technology stack here,” he said.

“We’re also enhancing our products and services … with an eye to customer value. And finally, we’re investing in adjacencies that have the ability to produce significant revenues over the medium term.”

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Source: The Australian Securities Exchange is investing in more than just blockchain | ZDNet