ASX partners VMWare, Digital Asset to move its platform on DLT

Tuesday 27 August 2019 00:02 CET | News

The Australian Securities Exchange (ASX) had teamed up with Digital Asset, a fintech company, and VMWare to move its current exchange platform onto distributed ledger technology (DLT).

According to CoinDesk, ASX’s current platform handles some AUD 2 trillion in registered equities along with AUD 5 billion processed per day.

ASX and Digital Asset have signed a three-party memorandum of understanding (MOU) to build a replacement platform for the existing Clearing House Electronic Subregister System (CHESS) onto DLT. The MOU will help it expand both product offerings and service locations across Australia and New Zealand.

The exchange aims for the new DLT-platform to be up and running by Spring 2021. As of now, 30 to 40% of the new platform is available to replace CHESS. For this initiative, ASX uses also Digital Asset’s open-source, blockchain-focused language DAML.

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Keywords: Australian Securities Exchange, ASX, partnership, Digital Asset, VMware, DLT, transaction, exchange platform, Australia
Countries: World