Home / TechnologyNews / ASX selects distributed ledger technology to replace CHESS

ASX selects distributed ledger technology to replace CHESS

(Reuters) – Australia’s main bourse ASX Ltd on Thursday said it would replace its existing technology used to record shareholdings and manage the clearing and settlement of equity transactions in Australia, with blockchain developed by its technology partner Digital Asset (DA).

The market operator’s decision to replace the currently used technology, Clearing House Electronic Subregister System (CHESS), follows the successful build of distributed ledger technology, also known as blockchain technology, and the completion of extensive suitability testing by ASX and DA over the past two years.

Reporting by Susan Mathew in Bengaluru

Our Standards:The Thomson Reuters Trust Principles.

About admin

Check Also

Artificial intelligence poses risks of misuse by hackers, researchers say

FRANKFURT (Reuters) – Rapid advances in artificial intelligence are raising risks that malicious users will …

Leave a Reply

Your email address will not be published. Required fields are marked *