ASX Exchange Targets 2020 for DLT Settlement System

The Australian Securities Exchange (ASX) is moving closer to replacing its CHESS clearing and settlement system with a distributed ledger-based alternative.

Details about the system’s progression toward production launch were included in an 87-page consultation paper published Friday, which included a timeline for when the switch will be made as well as descriptions of the types of functions it will and won’t support.

ASX is targeting a rollout date sometime in the quarter of 2020 or the first quarter of 2021. But before then, ASX – by way of the consultation paper – is seeking early feedback on its plans as they exist today.

“Depending on the extent of consultation feedback received, ASX expects to provide a final functional scope and implementation roadmap in late July 2018,” the firm explained in the opening of the report.

ASX has been exploring the use of distributed ledger technology (DLT) since 2015…

Read Full: ASX Exchange Targets 2020 for DLT Settlement System