The Australian Stock Exchange is paying close attention to blockchain

The Australian Securities Exchange (ASX) is considering using blockchain technology to manage securities trading risks, according to a report in the Financial Times.

In a recent interview, ASX CEO Elmer Funke Kupper revealed that the exchange is considering the application of blockchain and exploring how the technology can be used to improve its trading systems.

Funke Kupper says:

“We are watching this technology very closely and the timing is almost perfect. Blockchain can bring us huge changes and we are examining whether it is a way to transform our stock market.”

However, Funke Kupper also stressed that the ASX is in no rush to adopt the technology, which could take another six to seven months.

Earlier this year, the ASX CEO told The Sydney Morning Herald that the exchange was considering using blockchain technology to enhance its clearing and settlement systems.

“We are looking for something that will improve end-to-end efficiency and we have people looking very carefully at blockchain to see if it can create benefits for our customers, investors and the business,” Funke Kupper said at the time.

Other exchanges are also spending time and resources exploring blockchain applications. Last month, Nasdaq launched its private trading market blockchain project LINQ in Las Vegas, and earlier this year, Nasdaq also partnered with blockchain startup Chain.

Recently, the London Stock Exchange (LSE) also signed up to join a blockchain-focused trade settlement group, which also includes the Chicago Mercantile Exchange Group and Societe Generale. The London Stock Exchange is also a partner in the open source blockchain project "Hyperledger" led by IBM and the Linux Foundation.

Original article: http://www.coindesk.com/australian-securities-exchange-taking-very-close-look-at-blockchain/
By Stan Higgins
Compilation: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/asx-blockchain-2 ‎)