The Sydney Stock Exchange (SSX) has announced that its blockchain-focused joint venture, APX Settlement (APXS), has prototyped a blockchain for equity securities.
First revealed in May, the blockchain system is part of a bid by the small exchange to become less dependent on the Australian Securities Exchange (ASX) for post-trade services through a partnership with local startup Bit Trade Labs. In statements, the companies called the news the "first step" toward an "instantaneous settlement-and-transfer-upon-trade" platform and this larger vision.
Going forward, SSX said APXS is exploring how to extend its technology beyond securities and commodities and into production environments.
Partners, according to APXS CEO David Lawrence, include the Australian government, regulators and local trade groups, and in statements, he further called on these parties to help make the market more equitable.
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