ASX to become first stock exchange on blockchain

ASX will replace its existing clearing and settlement system with blockchain 
07 December 2017   601

ASX, the Australian Securities Exchange, announced today its intention to replace CHESS using distributed ledger technology (DLT) developed by American software company Digital Asset (DA).

CHESS (Clearing House Electronic Subregister System) is the system used by ASX to record shareholdings and manage the clearing and settlement of equity transactions in Australia. Now ASX plans to replace CHESS with a next generation post-trade platform using blockchain technology.

"We believe that using DLT to replace CHESS will enable our customers to develop new services and reduce their costs, and it will put Australia at the forefront of innovation in financial markets. Today’s announcement is a major milestone on that journey."

 

Dominic Stevens

ASX Managing Director and CEO

The DA Platform uses Distributed Ledger Technology to allow the mutualization of financial market data and processes across multiple market participants. It does this while maintaining confidentiality and scalability, both critical for market infrastructures.

The ASX also announced that it has taken up its pro-rata right to participate in Digital Asset’s recently announced Series B financing. This additional participation brings the total funding raised by Digital Asset to over $115 million.

Genesis Conference to be Held in London

Genesis Conference will cover research and development, regulation, economics and applications issues, taking place in London on February 22
22 February 2018   73

Genesis London Conference will take place on February 22, tackling the most pertinent issues in blockchain space: research and development, regulation, economics and applications.

Genesis London is a platform for researchers, developers and generally anyone interested in blockchain, and its priority is to share knowledge, facilitate productive discourse and filter out the hype.

Location: The CityPoint building, 1 Ropemaker St, London, EC2, UK
Date and time: 9:30AM - 8PM, February 22, 2018

The agenda of the conference includes Privacy and Confidentiality Techniques for Blockchains; Permissioned Business Blockchain Applications and Use-cases; Scalable, Transparent and Post-quantum Secure Computational Integrity, with Applications to Cryptocurrencies; A Rational Protocol Design Treatment of Bitcoin, and more.

The headline speakers include Patrick de Laive, co-founder of TNW; Margarita Khartanovich, head of insight at Binary District; Jack Gavigan, chief operating officer at ZCash; Jeremy Kahn, technology writer for Bloomberg, and many more.