Because the new clearing and settlement platform – provided by firm Digital Asset and enabled by distributed ledger technology (DLT) – is based on an open-source smart contract programming language, banks will be able to explore their own ways of doing business by putting it to use. The Trade has picked up the news.

From the inside out

According to the article, ASX has hired over 100 people in the last year, part of whom on the team that works with the shift from old platform Chess to the new DLT-enabled platform. And now the team is expanding its scope to supporting new use cases on the clients’ side.

“We are excited by the possibilities of providing a trusted ledger state to those who have permission to see it. If you can do this, the wider industry will be able to innovate in areas well beyond clearing and settlement of cash equities,” the CEO of ASX, Dominic Stevens, is quoted as saying.