The securities exchange told the market that the customer development environment opening today was on track with the digital ledger technology system going live on March/April 2021.
An industry-wide test environment is scheduled to be available in July next year.
The technology replacing the old CHESS system is said to contain 35 new functions requested by the market as well as offering an upgrade to the modern application and global standard messaging protocol.
Current users of the customer development environment can test all three connectivity options, including direct (DLT node access) and ISO 20022 global messaging standard via AMQP and SWIFT.
Additional functionality will be progressively released with the program around every eight weeks.
The ASX has called it an opportunity for the Australian financial services industry to gain value and reduce costs in the superannuation industry.
The exchange also expects Sympli, the electronic property settlement it has formed with Australian Technology Innovators to complete its first financial transaction by the end of this year.
The implementation of the CHESS software replacement was pushed back from Q4 2020 last year, providing six additional months for user development and testing, and another six months for mandatory accreditation.
The ASX has been building and testing the blockchain software with US distributed ledger company Digital Asset since 2015.
Sarah Simpkins
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
