ASX postponed the launch of a clearing and settlement system on the blockchain for 2023 year

calculated system on the blockchain on 2023 year />

Australian Stock Exchange (ASX) postponed the launch of the clearing and calculated system on the blockchain until April 2023 year due to higher platform requirements, What was supposed earlier.

As reported
Reuters, The ASX operator decided to postpone the launch of the clearing and calculated system on the blockchain due to market shocks, caused by the pandemia of coronavirus. According to the ASX statement, Previously, the launch was scheduled for April 2022 of the year, However, now moved to spring 2023 years after consultations with market participants.

“The industry demanded much more bandwidth for processing calculated-blank operations, how it was assumed before the pandemic Covid-19 ", – said ASX. “This happened in response to a sharp increase in the volume of trading on the ASX platform in the most unstable pandemic period in March”.

Back at the end 2017 ASX reported, that the blockchain will replace its current Clearing House Electronic Subregister System (CHESS). In August last year, the exchange confirmed the active development of the platform on the blockchain, And this summer market participants demanded
from ASX postpone the launch of the system for two years, as the new project "lacks clarity".

Recall, that recently the operator of the National Stock Exchange Australia (NSXA) received
permission of the regulators to launch the calculator system of the DESS blockchain, And soon can connect to ASX.