Pondering the DLT fiasco in Australia, the global post-trade community is assessing which parts of the problem are actually in the DLT and which are simply in Australia. Australian stock exchange ASX blames its technology supplier – who barks back.

“Where we have clear and consistent requirements, with good program governance, our technology works well, and we deliver on time.”

The Australian Financial Review has gone to depths on the story, and brings quotes from an unnamed senior executive at Digital Asset.


“Just like any project, clear requirements, alignment on the objectives, and manageable milestones with defined success criteria are paramount. The delays have not been due to Digital Asset’s failure to deliver,” says the Digital Asset executive. The article mentions relatively quick and seemingly successful implementations of the company’s technology at Deutsche Börse and Goldman Sachs.

Parliament not amused

The hit-back from Digital Asset follows an accusation made Monday, by ASX chief executive Helen Lofthouse, in what the Australian Financial Review describes as “an explosive and revelatory hearing” with the parliament joint committee on corporations and financial services:

“During the course of this year, we have seen escalating delays from our vendor in relation to the six core areas the Accenture report was commissioned to look into,” she told the committee.

The Australian Financial Review was also behind deep and amusingly written insights into the project published in August, as we observed.