ASX hails opening of customer development dnvironment for DLT testing
May 7, 2019

The Australian stock exchange ASX says it has successfully opened the Customer Development Environment (CDE) for its new equities clearing and settlement system to replace CHESS, which is based on distributed ledger technology (DLT).

The first of seven ‘drops' of software code was made available to customers on Tuesday April 30. Additional functionality will be released at approximately eight-week intervals, culminating in full functionality in the CDE by mid-2020.

The opening of the CDE allows customers to interact and experiment with the new system. Once connected, users can design, build and test system changes, access some of the new business functionality, and compare various access options.

ASX says that customers can connect to the new system directly via a DLT node, which provides access to real-time, synchronized, source-of-truth data. It adds that the innovation is designed to reduce costs and complexity, and facilitate new business opportunities for intermediaries, issuers, investors and other users.

While ASX encourages this mode of connection, other access options are also available, including the ISO 20022 global messaging standard via AMQP and SWIFT, and a web browser for low volume, infrequent usage.

ASX says it is on-track to go-live with the new DLT-based system in March-April 2021. The timetable and functionality reflect what the market has asked for through ASX's extensive public consultation process.

"Delivering the development environment for customers on schedule is a major step forward in ASX's CHESS replacement journey", said Cliff Richards, ASX's Executive General Manger Equity Post-Trade Services. "While we believe distributed ledger technology offers exciting opportunities for the whole market to innovate, there is much still to do. We continue to work closely with our customers as we progress towards delivery of the new system."





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The Australian stock exchange ASX says it has successfully opened the Customer Development Environment (CDE) for its new equities clearing and settlement system to replace CHESS, which is based on distributed ledger technology (DLT).

The first of seven ‘drops' of software code was made available to customers on Tuesday April 30. Additional functionality will be released at approximately eight-week intervals, culminating in full functionality in the CDE by mid-2020.

The opening of the CDE allows customers to interact and experiment with the new system. Once connected, users can design, build and test system changes, access some of the new business functionality, and compare various access options.

ASX says that customers can connect to the new system directly via a DLT node, which provides access to real-time, synchronized, source-of-truth data. It adds that the innovation is designed to reduce costs and complexity, and facilitate new business opportunities for intermediaries, issuers, investors and other users.

While ASX encourages this mode of connection, other access options are also available, including the ISO 20022 global messaging standard via AMQP and SWIFT, and a web browser for low volume, infrequent usage.

ASX says it is on-track to go-live with the new DLT-based system in March-April 2021. The timetable and functionality reflect what the market has asked for through ASX's extensive public consultation process.

"Delivering the development environment for customers on schedule is a major step forward in ASX's CHESS replacement journey", said Cliff Richards, ASX's Executive General Manger Equity Post-Trade Services. "While we believe distributed ledger technology offers exciting opportunities for the whole market to innovate, there is much still to do. We continue to work closely with our customers as we progress towards delivery of the new system."



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