The Australian Securities Exchange (ASX) is reportedly considering whether to use blockchain technology to manage trade risk.
According to the Financial Times, ASX CEO Elmer Funke Kupper said in a recent interview that the exchange, Australia's largest, is considering an application of the blockchain as it explores how to go about improving its trading systems.
Funke Kupper told the publication:
Funke Kupper stressed that ASX isn’t rushing to adopt the technology, thought, and that a decision won’t be made “for another six to seven months”.
The ASX CEO’s comments echo statements from earlier this year, when he told The Sydney Morning-Herald that the stock exchange was weighing whether to enhance its clearing and settlement system using blockchain technology.
"We are looking at what we can do to bring end-to-end efficiencies, and we have people looking very closely at blockchain to see if we can create efficiencies for our clients, investors and companies,” Funke Kupper said at the time.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.