Australian Securities Exchange Partners with VMware to Develop its Settlement System
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Aug. 26, 2019
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The Australian Securities Exchange (ASX) has just signed a memorandum of understanding (MOU) with tech giant VMware to integrate blockchain into its clearing and settlements system.

ASX, which has shared the news today, reported this new agreement will help provide blockchain solutions to its customers in Australia and New Zealand.

The Australian Securities Exchange has been working together with Digital Asset (DA) since 2017 on a replacement for its current CHESS payment system, which has been operating for 25 years now and in which there are registered around 2 trillion Australian dollars in shares.

The agreement with VMware will allow the exchange to take advantage of the experience of the tech giant in order to accelerate the development of its new blockchain-based clearing and settlements system. The launch of this new system was originally scheduled for the end of 2020, however, it was delayed to the second quarter of 2021.

VMware, which is owned by computer giant Dell, has recently signed an agreement with Digital Asset to integrate DA's smart contract language into its own blockchain platform.

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