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.
Read more about
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.