•   
  •   
  •   

Technology The Australian Securities Exchange is investing in more than just blockchain

03:00  14 february  2020
03:00  14 february  2020 Source:   zdnet.com

Elon Musk says Vegas tunnel will hopefully be operational by 2020

  Elon Musk says Vegas tunnel will hopefully be operational by 2020 Elon Musk said that Las Vegas is "hopefully" getting a fully operational underground commercial tunnel in 2020. © Drew Angerer/Getty Images NEW YORK, NY - APRIL 4: Tesla CEO Elon Musk arrives at federal court, April 4, 2019 in New York City. A federal judge will hear oral arguments this afternoon in a lawsuit brought by the U.S. Securities and Exchange Commission (SEC) that seeks to hold Musk in contempt for violating a settlement deal.

The Australian Securities Exchange (ASX, sometimes referred to outside Australia as the Sydney Stock Exchange ) is Australia 's primary securities exchange . It is owned by the Australian Securities Exchange Ltd, or ASX Limited, an Australian public company (ASX: ASX).

The Australian Securities Exchange (ASX) is likely to turn to blockchain technology to replace its current clearing and settlement system in the future. Blockchain is under consideration to replace Australian Security Exchange ’s Clearing House Electronic Sub-register clearing and settlement

a close up of a traffic light© ZDNet

The Australian Securities Exchange (ASX) is building the world's first actual industrial-scale blockchain use case -- a new post-trade solution to replace its legacy Clearing House Electronic Subregister System (CHESS) platform, which has been running for around 25 years.

The project has global traction, with ASX CEO Dominic Stevens saying during the organisation's first-half results call on Thursday that the first question he's asked when overseas on business has always been about CHESS.

"The intensity of interest has only increased over the last year," he added.

Read more: Here's what to expect from ASX's blockchain-based CHESS replacement

The teenager that's at CES to network

  The teenager that's at CES to network It's not that Alishba Imran isn't impressed by her tour of Zappos HQ, the Disneyland of corporate campuses, with its "Zapponians" who earn "Zollars" and play "Zing Zong" on breaks. But she might not see herself working at a big corporation like this. Her goal is to be "influential." She describes herself as a blockchain and machine learning developer and researcher, and sees her future in healthcare and finance infrastructure. She chats about fractional ownership and the direction of 5G, as well as stoicism and first principles. She is 16 years-old.

The Australian Securities Exchange (ASX) will replace its current clearing system with blockchain technology. The new system has been in development and testing for more than two years and aims to cut the cost of transactions, and make them faster and more secure . A timeline for the transition to

7) that it would use blockchain to clear and settle trades, becoming the world’s first mainstream equity market to employ the technology behind bitcoin Other prominent exchanges that are experimenting with blockchain include the Nasdaq, the London Stock Exchange , and the Japan Exchange Group.

The system is ready for industry-wide testing in July, but the ASX is working on more than just CHESS. According to Stevens, the "ASX has never been busier".

"We're making long term investments in the future of our core underlying franchise by improving the management of enterprise risk, enhancing our risk culture, and we're undertaking a significant contemporisation of the technology stack here," he said.

"We're also enhancing our products and services … with an eye to customer value. And finally, we're investing in adjacencies that have the ability to produce significant revenues over the medium term."

S&P/ASX All Technology Index

The launch of the S&P/ASX All Technology Index is currently scheduled for later this month.

Former top stockbroker to go on trial for fleecing clients

  Former top stockbroker to go on trial for fleecing clients A former Pennsylvania stockbroker who was kicked out of the securities industry and ordered to pay millions of dollars in damages to customers he allegedly fleeced faces trial Monday on an unusual set of criminal fraud charges. A stockbroker watches the latest share prices on screens during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on August 26, 2019. (Photo by RIZWAN TABASSUM / AFP) (Photo credit should read RIZWAN TABASSUM/AFP/Getty Images) Anthony Diaz was fired by five brokerages and resigned from another amid persistent customer complaints and rules infractions.

The Australian Securities Exchange (ASX) will Blockchain is the underlying system that allows Bitcoin, Ethereum and other cryptocurrencies to be traded in a decentralized manner. Many users, or nodes, have a copy of the ledger and verify the transactions by completing difficult mathematical

For almost three years, the Australian Securities Exchange (ASX) has been working In yesterday’s results announcement, CEO Dominic Stevens revealed more details about the In particular, he noted that the pensions industry has costs of billion, of which equity clearing costs are just 0 million.

According to Stevens, the index -- with its own code, XTX -- will enhance the profile and understanding of the tech sector in Australia. He said it would also increase opportunities for investors.

"Mirroring the increasing importance of technology to the ASX as a company has been the rise of technology as an industry sector on our exchange," the CEO said. "This is a further step along the path of ASX developing a globally respected listed technology sector."

In its financial results, the ASX said the index has come in response to customer requests.

ASX and third-party data with DataSphere

The ASX's DataSphere platform opened during the last half, and by the end of this half, Stevens said the majority of ASX's data catalogue will be curated and loaded.

"This platform is providing a big data solution for ASX that can be also accessed and leveraged by customers," he explained. "Along our theme of having a more open solution for everyone."

Australian Open 2020: Serena Williams powers through for first-round victory

  Australian Open 2020: Serena Williams powers through for first-round victory Serena Williams needed less than an hour to get past Anastasia Potapova at the Australian Open.The American star started her campaign in Melbourne in style, needing just 58 minutes to cruise past Potapova 6-0, 6-3.

The Australian Securities Exchange (ASX) has delayed plans to switch to blockchain technology In August of this year, it was reported that Australian authorities were working with IBM to build the Advancements in Investing : how innovation is changing the way we save. Just over 20 years ago

The Australian Securities Exchange (ASX) has decided to postpone the launch of a blockchain -based settlements system to Q2 2021. Elsewhere, more and more banks and exchanges are heavily investing in blockchain technology, showing that there is indeed a lot of

DataSphere is touted by the ASX as an open data science platform that supports analytics and machine learning. The selling point is that customers can access ASX and third party data to solve problems. It also allows customers to commercialise their data and analytics.

See more: ASX approaching artificial intelligence with caution

The platform is operational, the web store is open, and the first data products are available. Stevens said the platform is "ready to go" after the process of "getting all the data there".

"The curation and cleansing of the data is actually incredibly detailed and a significant task … we're heading towards completion on that," he added.

The ASX is now having discussions with financial institutions to show them the value of jumping on board.

E-conveyancing done Sympli

Also allowing the ASX to pursue adjacencies that leverage its expertise and technology infrastructure is the e-conveyancing platform Sympli. Sympli blends ASX's payments infrastructure with InfoTrack's conveyancing expertise on a "modern technology platform".

Elliot Benchetrit explains why he asked Australian Open ball girl to peel banana for him

  Elliot Benchetrit explains why he asked Australian Open ball girl to peel banana for him The tennis umpire told Elliot Benchetrit the ball girl was not his "slave."

The Australian Securities Exchange (ASX) has said it will implement a blockchain -based post-trade system from as early as Q4 2020, replacing the current The paper confirmed that The ASX will use a new distributed ledger technology to manage the Australian financial market and will introduce 50

The Australian Securities Exchange Ltd., Australia ’s primary stock exchange , announced today that it will soon use blockchain technology to record Today’s announcement follows a successful build of digital ledger blockchain technology by ASX partner Digital Asset Holdings LLC, a blockchain

"Here ASX is the challenger rather than the incumbent. We're building what we believe is a superior solution that will integrate better with the banking and conveyancing market," Stevens said.

"I'm pleased to confirm that we're connected to the RBA and connected or connecting to two of the majors, and this has allowed Sympli to complete its first financial conveyance, as well as other transactions, and we're confident that the remaining connections will take place over the course of 2020."

According to CFO Gillian Larkins, the delay is at the bank's end.

"The technology is good. It's just an element of connectivity with the banks that we're actually -- that's why there's a delay," she added.

ASX Net upgrade and a second data centre

Slated for completion this year, the ASX Net upgrade is an overhaul of its external connectivity network. The exchange is touting it as being customer-focused, allowing for standardised, consolidated, and faster communication.

Stevens said the work ASX has done over the last five years to grow its Australian Liquidity Centre (ALC) ecosystem is paying dividends.

"We're attracting new customers, filling additional cabinets, providing fresh connections," he said. "ALC has lowered the total cost of ownership of these services for many users over many years.

Pavlyuchenkova takes out 2nd-seeded Pliskova in 3rd round of Aussie Open

  Pavlyuchenkova takes out 2nd-seeded Pliskova in 3rd round of Aussie Open World No. 2 Karolina Pliskova was knocked out of the Australian Open, falling 7-6 (4), 7-6(3) to Anastasia Pavlyuchenkova.The Rod Laver Arena match took 2 hours, 25 minutes to complete - the second game lasted 17 minutes and 53 seconds before Pliskova finally held serve after saving six break points and playing through 12 deuces.

A few weeks ago, I wrote about the Australian Security Exchange ’s (ASX) plans to convert the bulk of its trading activity to a blockchain -based system. But it seems it will take much longer than ASX initially thought, as it just announced that it will be delaying the launch. The ASX was meant to have

Beyond that , the field of cryptocurrencies has expanded dramatically since bitcoin was launched over a decade ago, and the next First, its initial coin offering was one of the longest and most profitable in history, raking in a record billion or so in investor funds through crowdsourcing efforts lasting a year.

"With our new secondary data centre, it's a significant upgrade that replaces the facility that faithfully supported the exchange for the last 20-plus years."

Stevens said the newer facility would enable a low risk of failover and provide a better backup. It's due for completion at the end of this fiscal year.

See also: ASX asked to up risk management practices following equity market outage

Speaking at VMworld in San Francisco in August, ASX CIO Dan Chesterman said the exchange makes more money from selling technology services to customers than pure trading fees.

"The reality is, technology services, as a business, has grown at about 10% a year for eight years and the comparison is on fees for the cash equity trading, which is a portion of what you get from trading ... the reality is we don't have a technology services business if we don't have trading ... our technology services is a growing business," he told ZDNet.

Trading platform upgrade, a new website, and a thirst for more

ASX is also upgrading the ASX trade equity trading platform. Stevens said the platform will be more resilient with increased systems performance. It will also have the ability to introduce new functionalities more efficiently and is due for completion at the end of this fiscal year.

The ASX on Thursday also "softly" launched a new website, which will operate in parallel with the current site for the next few months. Stevens said this was done to give users time to explore and become familiar with the new site before switching over fully.

Refurbished smartphones grow in popularity among UK consumers

  Refurbished smartphones grow in popularity among UK consumers Brits more likely to buy a refurbished device and switch network than before.The increasing cost of devices, coupled with a perceived lack of innovation in the market, has led to longer refresh cycles and slowing sales of flagship handsets. Many consumers are happier with older models and unwilling to pay for expensive handsets when looking for a new phone.

The Australian Securities Exchange will be adopting blockchain for financial transactions, trades, and investments . What markets will soon follow? Following the hype around blockchain , the Australian Securities Exchange will be implementing the system for trades. By Donovan Alexander.

Blockchain Bound. In the latest high-profile switch to blockchain technology, the Australian stock market will become the world’s first blockchain -based stock exchange . The Australian Securities Exchange (ASX) announced that it will begin using the tech to clear and settle trades.

"ASX has been working on upgrading, consolidating multiple web presences for some time, especially to make them more contemporary and usable," he said. "And at the end of this calendar year we plan to begin rolling out a more comprehensive digital experience, which will include an enhanced issuer portal with richer functionality."

But back to blockchain

As much as the exchange tries to subdue the excitement around CHESS, there's no denying the gravity of the project. It's also offering the exchange additional revenue streams.

"We're very excited about the long term benefits this can bring to clearing and settlement specifically, and to the efficiency of the securities industry in Australia, generally," Stevens said.

"The opportunities a DLT-enabled CHESS offers are being recognised by customers and third parties and these opportunities are developing in a range of areas including risk management and process automation.

See also: ASX bets blockchain hype will subside in a few years

"Of course, while these opportunities are exciting, our focus is firmly on getting CHESS replacement projects completed."

Stevens said that due to the ASX being perceived as a leader in the DLT space, it's being approached for help by other industry players.

"These things I put them in more the longer term bucket, but it's actually starting to set up optionality within ASX, which has a very, very strong core business, and actually gives us areas to grow into," he said.

"ASX's current and future strategy is not about replacing CHESS or upgrading the futures system. We're actually transforming our entire technology stack from the operational databases and communications infrastructure we use to the way we deploy distributed ledger, cloud, big data, AI tools," Stevens continued.

"We're excited about the future opportunities that the new infrastructure will create for us, and the marketplace, and in particular we're energised how these technologies, actually can be leveraged by our customers to improve their businesses and how we can help them to do this."

MORE FROM THE ASX

  • ASX wants Aussie fintechs to become blockchain experts
  • ASX's new blockchain-based CHESS system: A marathon not a sprint
  • ASX gears up to take on IBM and Microsoft in blockchain-as-a-service

West Virginia will allow people with disabilities to vote by smartphone .
More governments in the US are offering the option to vote by smartphone. West Virginia's governor is poised to sign a bill requiring that all counties offer people with disabilities a way to vote online, just in time for the 2020 presidential election. It'd be the first state to provide the option. While the details have yet to be established, Secretary of State Mac Warner said it would most likely offer the mobile app Voatz, just like it did when it allowed online voting for overseas troops.Security is a concern, though.

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!