ASX on Track for CHESS Replacement Testing
The Aussie exchange is to begin industry-wide testing of its DLT settlement program.
The Australian Securities Exchange (ASX) is on track to commence industry-wide testing on its distributed ledger technology (DLT)-backed CHESS replacement program in July 2020.
The exchange greenlighted the project to replace CHESS, its equity clearing and settlement platform, with a DLT platform developed by Digital Asset Holdings in December 2017. ASX had earlier aimed for the platform to go live by the end of 2020, but since extended it to the end of its proposed timeline, to April 2021.
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