Australian Securities Exchange is the World Leader in Transforming Financial Markets
Collaborating with Industry Experts at the SAFAA Conference, insight was shared how the Australian Securities Exchange is Transforming Financial Markets. We summarize some of the interesting facts:
CHESS Replacement Project
• The Australian Securities Exchange implementation of Ledger AKA Blockchain is a solution that the world has not seen before and is a leading world change delivered by the Australia Financial Markets.
• On target to release technology to industry November 2021 and then to participants April 2022.
• The code is almost complete (functionality) and testing is in ASX environment.
• Changes to the build are being processed to increase the scalability to the systems after receiving industry feedback.
• Software Vendors will access the full technology, Smart Contract Language and Distributed Ledger (AKA Blockchain). This is all on target and Go Live is April 2023.
The Data Base Architecture Solution enables:1. Structured data.2. Reduces cost.3. Increases innovation.4. Improves compliance. 5. Information to be shared between particpants and exchange in a seamless way.6. Source of truth of information is correct through cryptography.
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