Blockchain is under consideration to replace Australian Security Exchange’s Clearing House Electronic Sub-register clearing and settlement System. The Australian Securities Exchange’s (ASX), managing director, has confirmed that blockchain is a serious candidate to replace the existing clearing and settlement system. The Sydney Morning Herald reports that ASX managing director Elmer Funke Kupper sees the costs, timescales and complexities of the current Clearing House Electronic Subregister System (CHESS) - cut down by blockchain technology. In noting the technology as a “once in a 20-year opportunity,” Kupper added that the ASX was actively looking to implement end-to-end efficiencies and assessing blockchain to […]
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