Australian Stock Exchange (ASX) and Australian Securities and Investments Commission (ASIC) officials are launching the process to start a second major effort to replace the legacy Clearing House Electronic Subregister System or CHESS platform. This effort follows a major blockchain-based project that was slated to replace CHESS but was halted in November 2022 after multiple… Read More >>
ASX May Delay CHESS Replacement Launch Again
A key Australian Stock Exchange (ASX) executive has announced another likely delay in the launch of the blockchain-based infrastructure that will replace the legacy Clearing House Electronic Subregister System (CHESS) due to new requirements for the core software of the platform to come. The ambitious. cutting-edge operations platform for securities transactions was slated to go… Read More >>
Is DLT Finally Ready for Prime Time?
When the bragging goes quiet on Wall Street, you know the serious talk has begun. This has been the case with blockchain/distributed ledger technology (DLT). The hype evaporated pretty fast when the securities industry began to seriously test the glibly christened savior of disruptive technologies. Banks, exchanges, hedge funds, vendors, and everything else in between… Read More >>
ASX Identifies the Causes for its 2020 Outage
The equity market of the Australian Stock Exchange (ASX) suffered an outage last November following the implementation of a new version of the Nasdaq equity market trading system. Shortly thereafter, ASX officials commissioned an independent review to provide an explanation for trading interruption. Released last week, the preliminary results of the review indicate the updated… Read More >>
ASX, Digital Asset & VMware Partner for DLT
ASX, Digital Asset and VMware Sign MOU The Australian Securities Exchange (ASX) has signed a three-party memorandum of understanding (MOU) with Digital Asset (DA) and VMware to work together on distributed ledger technology (DLT) initiatives in Australia and New Zealand. Under the MOU, the ASX plans to provide its DLT offering “with the support of… Read More >>
ICE Agrees to Sell Trayport to TMX Group
ICE to Get Cash & Some TMX Group Assets The Intercontinental Exchange (ICE), which owns the New York Stock Exchange (NYSE), is selling a Trayport, a vendor of pre-trade energy solutions for traders, brokers and exchanges, to the TMX Group, parent company of the Toronto Stock Exchange, in exchange for certain TMX Group assets and… Read More >>
Borsa İstanbul Picks Orc for Connectivity
Orc, a specialist in electronic trading technology for listed derivatives, reports that its interface with Turkey’s Borsa İstanbul now “enables quoting and trading” for all Orc clients on the exchange that are using the Orc Execution Bricks or the Orc Trading Bricks platforms. “Turkey is becoming an increasingly attractive market, with a steady rise in… Read More >>
ASX Rips Up Its Back Office
With major productivity benefits in mind, the Australian Securities Exchange (ASX) has overhauled its back-office operations and moved from highly manual, batch-oriented processes toward straight through processing and automated workflows for customer, securities reference and corporate actions data. ASX officials are anticipating productivity improvements as high as 80% for corporate actions processing; faster speed to… Read More >>
