Australian Stock Exchange postpones the launch of the settlement system until 2021

Verified
3 months ago
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The Australian Stock Exchange (ASX) has announced a decision to postpone the transition from the old CHESS Clearing House Electronic Subregister System to a new blockchain system. Now the implementation of the solution will take place no earlier than the second quarter of 2021.

It is reported that ASX received about 40 written feedback on plans for the implementation of the new system from various participants in clearing operations, payment providers and market operators. Based on the recommendations received, the management of the stock exchange decided to postpone the launch of the product and extend the testing phase.

Also, developers said that seven functions will be added much later than previously planned.

Recall that the initial launch of a new solution created on the basis of distributed registry technology was expected back in late March 2018, and intentions to launch blockchain-based solutions for post-trading customer service were announced in 2016.