But ASX is now replacing CHESS with a next generation post-trade platform using contemporary technology.
The ASX has been consulting on this decision for more than a year, and two years building and testing a prototype with Digital Asset, of which it owns 8.5 per cent, that could work at scale.
Australia's equity market the ASX has chose to replace its CHESS system to record changes in shareholding with distributed ledger technology found in blockchain.
The exchange has been looking at the possible adoption of the technology for more than two years as an alternative to developing an update for its Clearing House Electronic Subregister System, or Chess, which was introduced more than 20 years ago as a replacement for paper share certificates.
"The testing confirms ASX's confidence in the functional, capacity, security, and resilience capabilities of [Digital Asset's] application of DLT to meet the needs of Australia's financial marketplace and maintain the highest regulatory and operational standards", the statement explains. Instead, the system will be a private network. It will also give ASX's customers choice as to how they use ASX's post-trade services.
Apple planning LCD iPhone with a metal case for 2018
In the previous month, KGI Securities analyst Ming-Chi Kuo had claimed that Apple would be releasing three iPhones in 2018 . Nikkei revealed that the low cost of iPhone would be due to usage of LCD display instead of OLED which is most expensive.
The exchange, which has been looking to replace its existing system for more than two years, said it aimed to disclose the proposed timing of the change and the functions the new technology will initially have by the end of March.
Over the past year, the ASX conducted industry-wide consultation, including quarterly webinars with over 150 participants; performed demonstrations of the blockchain-based technology to 110 companies from global finance companies; held a series of engagement workshops; and arranged six business committee meetings to prepare the DLT solution.
Dominic Stevens, the ASX managing director and CEO, says the exchange has been carefully examining distributed ledger technology for nearly two-and-a-half years.
The world will "look on carefully" as the ASX becomes the first major stock exchange to implement distributed ledger technology (DLT) across its trading platform, says deputy chief executive Peter Hiom.
"We believe that using DLT to replace CHESS will enable our customers to develop new services and reduce their costs, and it will put Australia at the forefront of innovation in financial markets. Together, DA and our client ASX have shown that the technology not only works, but can meet the requirements of mission critical financial infrastructure". The ASX, which invested $14.9 million in Digital Asset in January 2016, today announced it had subscribed to $US3.5 million in convertible notes at Digital Asset. JPMorgan in October rolled out its latest pilot program to use blockchain to enable faster, more secure transfers of cross-border payments between it, Royal Bank of Canada and Australia & New Zealand Banking Group Ltd.
During last week's sessions, de Mistura shuttled between representatives of the warring sides, who did not meet face-to-face. Negotiations were paused over the weekend and resumed on Tuesday, but without the regime delegation headed by Syria's U.N.
Security Capital Research & Management Inc. increased its position in shares of Highwoods Properties by 4.8% in the third quarter. Goldman Sachs Group began coverage on shares of Hudson Pacific Properties in a research report on Tuesday, September 19th.
Aadhaar is a 12 digit unique-identity number issued to all Indian residents based on their biometric and demographic data. Mobile sim cards still have time to link with Aadhaar, as the deadline for mobile sim linking is February 6, 2018.
Johnson Controls International plc Ordinary Share (NYSE:JCI) last issued its quarterly earnings results on Thursday, November 9th. The Average Volume of the company is 5.04 Million, while the Volume of the company in the last trading session was 7.57 Billion.
I think we'll see after practice how he feels, tomorrow how he feels, before we begin to make the decision on him playing or not". Whenever he's able to get back into the gym we want him around as much as possible. "It sucks it happened", Cousins said.
Buhari pledged that prison reforms and decongestion would continue to receive prompt attention from his administration. The president also gave the inmates an undisclosed amount of money to transport themselves to their respective homes.
The smartphone houses a 3300mAh battery with Qualcomm Quick Charge 3.0 and it also supports wireless charging. Last month, we came across a report tipping that the LG V30 could be launched in India sometime in December.
Libby Schaaf, Oakland's mayor, remains optimistic about the A's future in the city and the team's ability to build a new ballpark. But the team had always faced an uphill battle in choosing the site at Laney.
Ladbrokes Coral in talks over takeover by GVC
The fast-growing online betting group GVC is back in talks with Ladbrokes Coral about a takeover worth up to £3.9 billion. Both sides have agreed GVC's chief executive Kenneth Alexander would take charge of the combined group.
Streaking Capitals host slumping Blackhawks
Ottawa lost its second straight game to start a season-high, seven-game road trip and has dropped nine of its last 10 contests. Chicago's leading scorer Patrick Kane (27 points) has gone two straight games without a point.
CVS Health Corp (CVS) Shares Bought by Advisor Group Inc
Mirae Asset Limited holds 0.08% of its portfolio in CVS Health Corporation (NYSE:CVS) for 56,718 shares. 67,494 are held by S&Co. It is negative, as 84 investors sold CVS shares while 559 reduced holdings. 108 funds opened positions while 483 raised stakes.
Self-styled prophet charged with kidnapping 2 girls
The youngest of the four was later flown to Primary Children's Medical Center in Salt Lake City for further treatment. Their disappearance sparked a desperate search by Coltharp's ex-wife, and an Amber Alert followed.
Walgreens Pumps $418 Million Into China's Top Pharmacy Chain
The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website . The pharmacy operator reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10.
Chris Hogan returns to practice after missing four games
Because the Patriots are playing on Monday night, they will not be required to release an injury report until Thursday. Deatrich Wise, Kyle Van Noy , Malcolm Butler , and Marcus Cannon were also absent from Wednesday's session.