Australian Stock Exchange Confirms Upcoming Blockchain For Settlements
The Australian Stock Exchange (ASX) Limited has announced that it is building a blockchain as a replacement for its current platform for clearing and settlement of trades. In an announcement today by Australia’s biggest stock exchange, the ASX has confirmed that it is developing a private blockchain with US-based firm Digital Asset as a post-trade solution for the Australian equity market. The announcement also revealed that the ASX paid AUD $14.9 million for a 5% equity interest in Digital Asset Holdings (DAH), a fee that will also fund an initial phase of development of the private....
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The Sydney Stock Exchange (SSX) has confirmed its project to build a public blockchain platform that will drastically reduce settlement times of trades and equities. The Sydney Stock Exchange is pressing ahead with a new blockchain settlement system that will position itself as a low-cost alternative to the current clearing and settlement system delivered by the Australian Securities Exchange (ASX). The project was initially announced in May to attract venture capital and private equity funds to exit their investments by looking to list on the SSX instead. The blockchain project is....
This announcement comes at a time during which a lot of exchanges are actively exploring blockchain technology. Bringing Bitcoin technology to the masses seems to be the primary objective for a lot of companies. uTrade, an Indian startup, will use blockchain technology for stock trade settlements. Instantaneous clearing and settlement of stock exchange trades is a significant benefit of blockchain technology in the world of finance. The blockchain seems to quickly become a favorite tool among Indian startups. Albeit uTrade is specialized in selling trading platforms, algorithms, and data....
Sydney Stock Exchange has recently announced that it will be implementing blockchain technology for its equities market settlement and registration system. The new system will be developed and implemented in collaboration with Bit Trade Labs, a blockchain and distributed ledger based solutions company. Expected to go live by early 2018, the latest development was announced at the Practical Blockchains forum, operated jointly by Sydney Stock Exchange, Bit Trade Labs and the Australian Digital Currency Commerce Association. The solution developed jointly by Bit Trade Labs and Sydney Stock....
The recently founded Sydney Stock Exchange is turning to blockchain technology in developing a settlement system that will see it provide an open blockchain settlement platform, enabling any company or broker to use the blockchain. The Sydney Stock Exchange (SSX is building a blockchain solution for the private equity market in an effort to provide a low-cost alternative for venture capital funds. A report from the Sydney Morning Herald reveals that the blockchain-based solution will see the settlement of trades in private companies to begin with. With regulatory approval, the system will....
The Australian Securities Exchange (ASX), the biggest stock exchange in the country-continent is keeping a close eye on blockchain technology, a recent report revealed. The CEO of Australia’s biggest stock exchange, the ASX, has revealed that the exchange is considering blockchain technology as the group is due to upgrade its current system for clearing and settlement of trades. In an interview with the Financial Times, ASX CEO Elmer Funke Kupper said: We’re having a very close look at this. The timing is almost perfect. Where blockchain can make an enormous difference, we’re having a look....