In May 2016, SSX formed a joint veture with Bit Trade Labs - APX Settlement- to develop a blockchain-based equities market settlement and registration system. The latest announcement marks the first step towards the objective of building an instantaneous settlement-and-transfer-upon-trade (T-based DvP) platform.
APXS said that the platform’s development has been done in collaboration with BoardRoom, a Sydney based share registry service. The service plans to extend the smart register beyond equity securities to commodities markets, opening up opportunities for government and industry to transform markets currently limited by old structures and technology.
APX Settlement is working with government, regulators, the Australian Digital Currency and Commerce Association (ADCCA) to deliver innovative solutions using new technologies. The company is now evaluating the appropriate infrastructure for its production environment and is working with industry assurance and cyber security experts to develop verification methodologies to address systemic risks.
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