Exchange’s CHESS replacement project with Digital Asset comes to an end after significant time and costs are poured in over six years to no avail.
Exchange group says its blockchain-based post-trade platform is unlikely to go live before late 2024 as it commissions independent review of the new application.
The past week saw appointments from ASX, JonesTrading, LCH, DNB Asset Management, Tourmaline Partners, DWS Group and Kepler Cheuvreux.
New CEO will replace Dominic Stevens, who will aid with the transition until 30 September, after which he intends to retire.
ASIC looks to mitigate risks of future ASX tech upgrades by imposing additional licence conditions on three licences held by the equities exchange.
Exchange says 20 firms already exploring Synfini which uses the same technology as ASX’s flagship CHESS replacement but is offered as a cloud service.
Reserve Bank of Australia points out that ASX had only “partly observed” operational risk standards across its clearing and settlement platforms, in a review of the exchange.
IBM review of a market outage at ASX in November has suggested the system was not ready to go live and did not have the appropriate governance.
Departing deputy CEO leaves ASX to pursue interests in FinTech and blockchain technology.
Major markets globally have suffered outages in 2020. Hayley McDowell considers whether exchanges should be doing more to ensure markets operate efficiently and without disruption.