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ASX Taps Accenture to Review Delayed Delivery of Blockchain System

ASX’s CHESS replacement project, designed to supersede its decades-old system for settlements and clearances on its platform, is now expected at least until late 2024, ASX said in a statement.
The implementation of a blockchain or distributed ledger-based system would mark Australia as one of the first countries in the world to adopt the tech for a traditional exchange.
Major securities exchanges including the Nasdaq, the Japan Exchange Group and the London Stock Exchange are also exploring options to implement blockchain technology for order book settlements and clearances.
Dublin-based information technology services and consulting firm Accenture is expected to conduct the review of the new CHESS application to identify the system’s shortcomings.
“Accenture was selected as having the most contemporary and relevant expertise and current skills with Daml and distributed ledger technology (DLT)”.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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