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The National Stock Exchange of Australia (NSX) has announced that it will soon launch an automated transaction clearing and settlement platform based on blockchain technology
NSX said on Tuesday that its DLT-based Digital Exchange Sub-Registration System (DESS), which is part of the ClearPay platform, was approved by the Australian Council of Financial Regulators at its meeting October He is now working with the Australian Securities and Investments Commission to finalize the process and when it can go live on the Australian Stock Exchange
It aims to access ASX Clear under the Open Access and Trade Acceptance Service regimes
DESS is already « technically and operationally ready for the service to start accumulating data and writing to the blockchain, » the company said.
John Karantzis, CEO of iSignthis and NSX, previously accused ASX of blocking the company’s access to its clearing services The stock exchange suspended trading in iSignThis shares last October
ASX said the suspension was for a review after a market research group raised concerns about disclosures, governance and shareholder structure of iSignthis
ASX itself is building a DLT-based clearinghouse system to replace its aging CHESS system since 2017
In a recent announcement, ASIC and the Reserve Bank of Australia called on ASX to continue development with minimal delays
NSX has stated that its Nasdaq trading engine will initially be written on DESS and CHESS systems
Unveiled in February, ClearPay uses distributed ledger technology to facilitate same-day settlements and up-to-date accounting between trading participants, the stock ledger, and the exchange
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ASX, blockchaincom, ASX: NSX
World News – AU – Blockchain-based trading system is getting closer to ASX access – CoinDesk
SOURCE: https://www.w24news.com