ASX on track for blockchain announcement

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Financial Standard |

The ASX's potential rollout of blockchain or distributed ledger technology (DLT) is well on track, chief executive Dominic Stevens told the exchange's annual general meeting today.

An official announcement to determine the suitability of DLT to replace CHESS remains on schedule for December, Stevens said, adding stakeholder consultation is still underway.

Stevens said the project has been "a big undertaking" and pleased with the progress and the potential of DLT to deliver real efficiency gains for the market.

"We've given over 60 DLT system demonstrations or CHESS replacement workshops to more than 110 companies and over 500 attendees from the global financial services industry," he said.

See:  ASX increasingly confident in DLT inspired tech's potential

"The process has been a fantastic opportunity for ASX to engage with its customers and build a detailed understanding of what the industry wants. This has also included identifying improvements for customers beyond the world of CHESS, which we are also looking to implement."

Stevens added Centre Point, the ASX's anonymous mid-point matching service developed for investors in the fragmented equity market, exceeded $100 billion in transactions in FY17, representing a 36% increase on the prior corresponding year.

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