Australian Exchange Pauses Delayed Blockchain Project
- ASX to revisit system plans after Accenture, internal reviews
- Project came under pressure after delays, leadership changes
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Australia’s main exchange is reassessing plans to replace its settlement and clearing platform with a blockchain-based system after reviews, suspending work on the years-long project that’s been plagued by delays.
ASX Ltd. will revisit all aspects of its work to swap its Clearing House Electronic Subregister System, known as CHESS, for newer technology following an independent review by Accenture Plc and its own internal assessment, the Sydney-based firm said in a statement Thursday.