With a blockchain-based settlement system already in the pipeline, the Australian Securities Exchange (ASX) is now looking to expand its use of distributed ledger technology though a partnership with cloud computing giant VMware.
The ASX has been working with DLT specialist Digital Asset since 2017 to replace its Chess post-trade settlement system with a blockchain-based platform.
The system is not slated to go live until early 2021, but the Aussie exchange is already looking to go further down the DLT track, inking an MoU with Digital Asset ad VMWare, an existing supplier of virtualisation and infrastructure tech.
The ASX says the partnership will strengthen its ability to "support the financial services industry using the infrastructure to create new services and innovations beyond clearing and settlement".
It will also enable ASX, DA and VMware to work together to provide and support DLT solutions to other customers in Australia and New Zealand.
Peter Hiom, deputy CEO, QSX, says: "This new partnership is a very positive development that will help us support a wider range of DLT solutions developed by the industry. It confirms our belief in the potential of DLT as we remain on track to deliver the Chess replacement system in March-April 2021."