ASX announces replacement for ageing Chess system
Timetable for new system remains unclear, and Australian stock exchange has previously said it would maintain Chess until 2032.
The RBA and ASIC have been critical of how the ASX managed the blockchain project.
After taking a A$176 million write-down on a failed blockchain-based settlement and clearing solution in July, the Australian Securities Exchange will spend up to A$125m on the first release of a new solution to replace its legacy clearing house electronic subregister system (Chess).
The ASX today
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