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What a blockchain-powered ASX should mean

Written by Anton Murray Consulting on . Posted in Market Commentary, News


The ASX’s decision to replace CHESS with a blockchain solution will benefit investors as long as all parties are granted fair access, writes Sharesight’s Doug Morris. On 7 December 2017, the ASX announced it will be replacing its settlement system, known as CHESS, with a “blockchain-inspired technology”. Those of us investment nerds with an interest in financial plumbing have been keeping a close eye on this for years.

I think this is a smart business move aimed at reducing operating costs and hopefully a step towards more efficient markets. In fact, CHESS was one of the world’s first electronic settlement systems, and the ASX has long been recognised as a leader in technology. I recall hearing about the ASX in my days at the Chicago Board of Trade (now owned by CME Group), another leader in market tech (bitcoin futures anyone?).

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