Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
The Australian Exchange
World exchanges

Australian Exchange announced the postponement of the launch of the clearing system on the blockchain

19.07.2021
2 min read

Australian exchange to launch blockchain platform in 2023

The Australian Exchange has announced that it will postpone the start of the clearing system, which will operate on blockchain. The decision of the trading floor could not change even the request from the Reserve Bank of Australia.
Representatives of the Exchange said that the launch of the platform is postponed for two years, until 2023, while work on it continues. ASX announced the introduction of the technology back in 2017, when the platform planned to transfer a number of operations on the platform that operates on blockchain, by the end of 2020, but the pandemic has made its adjustments, and had to postpone the launch to a later date. The reason for the system’s postponement was global factors associated with reduced market volatility and changing trends in various stock exchange segments. Therefore, the platform requires improvement of some functions and expansion of capabilities, which will allow promptly reacting to changes. In addition, the technology itself requires improvement, as the processes during the pandemic have changed and now the platform needs more capacity to process post-trade operations. Moreover, the trading volume at the exchange itself has increased significantly, which also contributed to a number of changes.

The Australian Exchange

Before postponing the launch date, the site interviewed a large number of companies that are working with it. As a result, many said that they would have time to prepare their infrastructure by 2022. However, among the participants of the exchange were those who doubted whether they would have time to do everything before that date. In addition, they asked developers to conduct industry-specific testing to better understand the compatibility of the functionality with their capabilities. Therefore, the exchange decided to postpone the launch until 2023 so that all users could fully use the system. During this time, the platform will be able to work in test mode, which minimizes the appearance of errors in full operation.
The Australian authorities support blockchain technology and are interested in the development of this area. Therefore, the Reserve Bank insisted on the early launch of the clearing system, and even sent an official request to the exchange with a request to speed up the start of the platform. So far, the electronic subscriber system CHESS has been applied at ASX.
Blockchain technology is the most advanced technology available today and is used in various fields. Its use for one company or another means a big step forward. Therefore, it is not only the Australian Exchange that is working to implement a new platform. London trading platform is also actively cooperating with IBM corporations on the issue of creating a system based on the blockage. In addition, the exchange will soon present a platform for trading shares of small and medium-sized companies in Italy.

Tags: World exchanges
0
Previous Post Analyst of "BCS World of Investments": how profitable are investments in precious metals Next Post General Motors to build another electric vehicle plant

You Might Also Like

Asian markets
World exchanges
Asian markets are showing growth: overview of trends in Asia and the Pacific
22.10.2020
LSEG
World exchanges
Major investors sold £2bn worth of LSEG shares
08.07.2023
NTPro
World exchanges
Moscow Exchange wants to buy NTPro platform
31.03.2021
Stock exchange indices
World exchanges
Why stock exchange indices are taking a hit before the US and Chinese negotiations
01.12.2020
Nasdaq Riga
World exchanges
Nasdaq Riga: history and modern development of the Riga Stock Exchange
11.02.2025
China's stock exchanges
World exchanges
China’s stock exchanges are the world leaders in the number of IPOs
14.09.2022

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics