ASX, Australia’s biggest securities exchange, said in a news release that it expects to begin clearing and settling trades using a new distributed ledger-based platform between the fourth quarter of 2020 and the first quarter of 2021. The exchange announced in December that it would replace its current Clearing House Electronic Subregister System (CHESS) system with distributed ledger technology (DLT). It is using technology developed by Digital Asset, a startup headed by former JPMorgan Chase executive Blythe Masters, CoinDesk notes. The exchange also has issued an 87-page paper explaining its implementation plan for the platform. The paper lists approximately 50 new business features that the DLT system will deliver. Read more here.

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