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Australian Securities Exchange Delays Roll-out of New Blockchain-Based Platform

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The Australian Securities Exchange has delayed to go-live of its blockchain system, due to a delay in implementing new features announced in April. The system was originally intended to go live in March 2018 and replace the ASX’s existing Chess (clearing house electronic sub-register system) infrastructure. The rollout was to be done in partnership with Digital Asset and was said to make ASX “the world’s first” currency exchange to adopt the technology. However, in April the Exchange released a paper, detailing about 50 new business features to be rolled out with the system. It has now extended the delivery timeline for the blockchain-based platform. The rollout is now expected to take place between Q4 2019 and Q4 2020. Despite the delay, ASX points out that the new dates are subject to completion of system development, stakeholder readiness and regulatory clearance.