ASX Offers Free Blockchain Settlement to Lure Early Adopters

ASX plans to release the CHESS replacement in 2021 and the hope is to cut into Swift settlements.

The Australian Securities Exchange (ASX) will spearhead the use of blockchain to settle trades by offering the service free as an initial inducement to banks, instead of using industry-standard connections via Swift and AMQP.

The exchange, which has been working to replace its creaky Clearing House Electronic Subregister System (Chess), would offer the teaser rate on blockchain beginning in the first half of 2021 for three years, WatersTechnology’s sibling publication Risk.net has learned.  

T

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: