"ASX has been carefully examining distributed ledger technology for nearly two-and-a-half years, including the last two years with Digital Asset, in order to understand its potential application".
Today's announcement coincides with the ASX exercising its pro-rata right to participate in Digital Asset's recent Series B fundraising, subscribing for US$3.5 million convertible notes.
Sign up here for free access to 7 articles per month + twice daily business email alerts. The press release says that CHESS was world-leading when introduced in the 1990s, providing name-on-register functionality, electronic communications and removing paper share certificates.
HWL Final: India knock out Belgium via penalty shootout, enter semi-finals
Belgium Loick Luypaert is staking a claim to be the player of the tournament irrespective of where his team finishes. A quick change of passes helped them deal with Belgium's superiority on slick ball control and one-on-one advantage.
SIX, the Swiss stock exchange operator, also wants to make use of the blockchain technology and hired Masters to help it develop the use of Blockchain.
Founded in 2014, Digital Asset has raised more than US$115 million from large firms including ASX, Goldman Sachs Group Inc, JPMorgan Chase & Co, CME Group Inc, Deutsche Boerse and Citigroup.
It will now work with its stakeholders to finalise the scope of the go-live functionality of the new system, and will continue to consult with the market throughout 2018. "ASX is now taking the opportunity to replace CHESS with a next generation post-trade platform using contemporary technology".
"While we have a lot more work still to do, today's announcement is a major milestone on that journey", he said in a statement.
Auto bomb hits Kurdish refugee camp in Makhmur, northern Iraq
The camp is home to some 12,500 people from southeastern Turkey, supporters of the Kurdistan Workers' Party (PKK) which Turkey considers a terrorist group.
ASX managing director and chief executive Dominic Stevens told this morning's briefing that participants will be able to connect in a similar way they do now, with the option to use a new messaging system or directly interact with the distributed ledger.
The bank's head of blockchain has revealed the Commonwealth Bank is now implementing with a large world issuer in what will be a "world-first" issuance of a bond on the blockchain that it hopes to bring to market in 2018.
With the emergence of blockchain potentially requiring the government to find other means of tracing the income and assets of organisations and individuals, a House of Representatives committee has toyed with the idea of the ATO heading down the distributed ledger path.
This comprehensive guide covers everything you need to know about the innovative blockchain technology that powers Bitcoin, Litecoin, and other cryptocurrencies.
3.6 million people signed up for ObamaCare plans in one month
That's up from week four of enrollment, when 504,000 people signed up and week 3 when just under 800,000 people signed up. The initial surge has also put the administration, which has long claimed the health-care law is failing, in a hard spot.