Australian Securities Exchange to Build New Distributed Ledger With VMWare

The Australian Securities Exchange (ASX) is working with fintech company Digital Asset, and software company VMWare, to boost their present exchange platform on distributed ledger technology. Australian Securities Exchange to Build New Distributed Ledger With VMWare. Global exchange.

A Memorandum of Understanding (MOU) was signed by the Australian Securities Exchange (ASX) with Digital Asset (DA) and VMware, to work together in Australia and New Zealand on distributed ledger technology (DLT) projects.

ASX intends to provide its DLT offering with the support of DA and VMware assistance under the MOU rules. This will include:

Globalexchange. Developing the application to replace CHESS (the equity clearing and settlement system of ASX)

Supporting DAML

The provision and support of distributed ledger and related infrastructure that provides greater data protection

Confidentiality and security requirements for ASX. Global exchange.

Yuval Rooz, co-founder, and CEO of Digital Asset, said:

“We continue to achieve our milestones to deliver a production-grade, scalable distributed ledger solution for CHESS. VMware is now part of the mission we share with ASX to deliver a DAML-based distributed infrastructure to realise the full potential of this technology.”

Globalexchange. The new partnership “confirms our belief in the potential of DLT as we remain on track to deliver the CHESS replacement system in March-April 2021,” said Peter Hiom, deputy CEO of the ASX, in Monday’s statement.

Digital Asset is a world leader in DLT, the creator of DAML, and ASX’s CHESS replacement technology partner. VMware is a server virtualization, and cloud computing software provider listed in the New York Stock Exchange.

The present platform of ASX takes care of approximately $2 trillion AUD in registered shares, and processes $5 billion AUD daily. Globalxchange.