New ASX chief executive Dominic Stevens will be able to reveal whether a new blockchain-style "industrial strength" system will replace its existing system for clearing and settling stock trades by the end of next year.
Mr Stevens told shareholders at the exchange operator's annual meeting in Sydney on Wednesday the company had successfully completed a prototype of the distributed ledger technology and had "moved on to building an industrial strength solution that could be used to replace CHESS".
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
