ASX Under Pressure to Delay Blockchain Project

ASX has come under pressure to delay the implementation of a plan to use blockchain to clear and settle equities trades; Computershare told the FT that the project to overhaul critical systems lacked clarity; Ann Bowering, Computershare’s Chief Executive of Issuer Services in Australia and New Zealand, tells the FT, “In order to get this project back on track we really need a robust governance framework which isn’t there today and at the end of the day, we need to take a look at the timeline.”; Australia’s Stockbrokers and Financial Advisers Association told the FT it also wants a six- to 12-month delay to the project; ASX was the first exchange to commit to using blockchain based technology when they first announced the plan back in 2017; ASX said they are considering the feedback and will soon finalize a revised plan. Financial Times.

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