Australian Securities Exchange Partners With VMware For Blockchain Tech

The Australian Securities Exchange (ASX) has partnered with VMware, Inc. VMW in replacing its Clearing House Electronic Subregister System (CHESS) with another platform that is based on distributed ledger tech (DLT), according to ZDNet.

This means that ASX will be working with two partners: VMware and Digital Asset, a blockchain startup.

“This new partnership is a very positive development that will help us support a wider range of DLT solutions developed by the industry. It confirms our belief in the potential of DLT as we remain on track to deliver the CHESS replacement system in March-April 2021,” said ASX CEO Peter Hiom.

The existing CHESS system has been involved in clearing and settlement data activities for the past 25 years.

“For us, DLT-based CHESS is the next generation of market infrastructure, moving away from the notion of a central database messaging to distributed database shared with our customers, allowing for real time source of truth to be shared, whilst also preserving privacy and integrity,” said David Campbell, general manager of engineering and architecture at ASX.

Both ASX and Digital Asset will now be working with VMware to deliver the distributed infrastructure based on DAML, a blockchain programming language.