The securities exchange told the market that the opening of the customer development environment today is on track with the digital ledger technology system going live in March/April 2021.
An industry-wide testing environment is expected to be available in July next year.
The technology replacing the legacy CHESS system would contain 35 new market-requested features and offer an upgrade to the modern application and global standard messaging protocol.
Current users of the client development environment can test all three connectivity options, including the direct messaging standard (DLT node access) and the ISO 20022 global messaging standard via AMQP and SWIFT.
Additional features will gradually be released with the program approximately every eight weeks.
The ASX sees this as an opportunity for Australia’s financial services sector to gain value and reduce costs in the superannuation sector.
The exchange also expects Sympli, the e-property settlement it formed with Australian Technology Innovators, to complete its first financial transaction by the end of this year.
Implementation of the CHESS software replacement was pushed back from last year’s fourth quarter of 2020, providing an additional six months for development and user testing, as well as an additional six months for mandatory accreditation.
The ASX has been building and testing blockchain software with US distributed ledger company Digital Asset since 2015.
