ASX ropes in cloud computing giant VMware for its blockchain-based settlement system

The Australian Securities Exchange (ASX) has signed a deal with cloud computing giant VMware to ramp up the development of its blockchain-based equities clearing and settlement system.

Announcing the news on Monday, ASX said that the new deal with VMware and its existing blockchain partner Digital Asset (DA), will help support its distributed ledger technology (DLT) initiatives in Australia and New Zealand.

The ASX has been working on to replace its existing decades-old CHESS clearing house system since as early as 2017, in an association with DA. The system was initially expected to go live by the end of 2020, but got postponed until the second quarter of 2021.

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