The (ASX) announced this Tuesday that it has successfully opened the Customer Development Environment (CDE) for its new equities clearing and settlement system which will replace its .
The new clearing and settlement system is based on distributed ledger technology (DLT). With the opening of the CDE, customers of the Australian exchange can experiment with the new system as well as design, build and test system changes.
The opening of the CDE follows the first of seven ‘drops’ of software code being made available to ASX clients on the 30th of April. Approximately every eight weeks, the company will make additional functionality available. Full functionality in the CDE is expected by mid-next year.
Source: ASX
“We are proud of this achievement and very grateful for the support of our partner Digital Asset and our customers. While we believe distributed ledger technology offers exciting opportunities for the whole market to innovate, there is much still to do. We continue to work closely with our customers as we progress towards delivery of the new system.”
ASX Delays Launch of CHESS Replacement System
The new blockchain system which will replace CHESS was originally expected to go live towards the end of 2020 in a single cutover weekend. However, as , the exchange delayed the launch by six months, with the new date set for March or April of 2021.
The delay was the result of feedback from market participants, who questioned the feasibility of the 2020 launch date. Taking the responses into consideration, ASX extended its user development and testing period by six months as well as its mandatory accreditation by the same period of time.
Source: LinkedIn
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