Australian Stock Exchange completes blockchain trial for settlement system

posted almost 6 years ago
Australia’s largest Stock Exchange, the Australian Securities Exchange (ASX), recently published its annual report, revealing the company's progress and near-future plans for its blockchain, or Distributed Ledger Technology (DLT), projects.

ASX is one of the world’s leading financial markets, with a total market capitalization of around $1.5 trillion. Employing a team of 530 people, their customers include 6.7 million share owners, 180 participants and, according to the annual report, 2,204 listed companies and issuers.

The company announced in January that it was going to develop solutions for the Australian equity market using blockchain technology. A partnership with Blythe Masters' Digital Asset Holdings followed shortly after, with an investment of A$14.9 million in the US-based firm.

The exchange has now completed the initial phase of its DLT testing, and their blockchain prototype has “met performance, security and scalability thresholds.” The same technology is now being developed as a potential system to replace its 20-year-old clearing and settlement system.
Tags: news, blockchain