Australian Securities Exchange opens DLT-based Customer Development Environment

Australian Securities Exchange (ASX) has announced the opening of a new distributed ledger technology-based Customer Development Environment (CDE). The DLT solution will replace the current CHESS system used for equities clearing and settlement.

The software code is going to become fully available to customers by mid-2020. It will be provided in seven drops, the first of which took place on April 30.


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“Delivering the development environment for customers on schedule is a major step forward in ASX’s CHESS replacement journey”, said Cliff Richards, ASX’s Executive General Manager Equity Post-Trade Services. “We are proud of this achievement and very grateful for the support of our partner Digital Asset and our customers. While we believe distributed ledger technology offers exciting opportunities for the whole market to innovate, there is much still to do.”

Customers can interact and experiment with the CDE. They are able to “design, build and test system changes.” In order to connect to the new system, they can do it directly via a DLT node. The new system should simplify operations and make them cheaper. Granted there are no delays, the ASX’s DLT-based system should go live March-April 2021.

“We know our progress is being watched internationally and is an important bellwether for the technology's adoption”, said ASX Deputy CEO Peter Hiom.