The growth and adoption of blockchain technology is becoming increasingly popular within private financial organizations, such as the Australian Securities Exchange (NSX), which has just announced a new platform for automated trading based on this technology.
The Australian Securities Exchange (NSX) announced plans to launch a new automated trading platform based on NSX technology. blockchain, which will allow for the clearing and settlement of transactions automatically. According to the exchange's statement in several local media, the Australian Council of Financial Regulators approved the NSX blockchain digital exchange sub-registration system (DESS) recently this month, so the market operator is preparing to provide new services to its investors.
“The platform incorporates NASDAQ’s transaction matching engine, in addition to DESS, and in the future, iSignthis’ ClearPay Delivery vs Payments platform and Paydentity KYC platform.”
According to the release, DESS, the Australian Securities Exchange's new blockchain platform, will be technically and operationally ready to provide its new services and begin recording data on the blockchain in 2021. DESS is the result of a partnership between the Australian Securities Exchange (NSX) and financial services company iSignthis, who are building this digital platform.
Final consultations with NSXA and ASIC regarding DESS are pending for final approval and commencement of operations.
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Access to ASX Clear Pay services
For its part, the Australian Securities and Investments Commission (ASIC), the Australian financial markets and services regulator, is also taking the final steps before the new platform goes live. The authority is setting out the new operating rules for the Australian Securities Exchange subsidiary, the National Stock Exchange of Australia Limited (NSXA), wholly owned by NSX, so you get access to the ASX Clear Pay on a commercial basis, under the "Open Access" regime and the Trade Acceptance Service (TAS).
In the past, the director of the stock exchange, John Karantzis, had reported a number of disputes involving ASX, which prevented NSX from gaining access to ASX Clear Pay services.
The new blockchain platform aims to migrate clearing and settlement of bond markets to the blockchain, as well as reduce the dependence of trading firms on multiple systems across multiple asset classes. Some analysts and market experts argue that the ASX's acceptance represents an act of faith in new technological developments.
A 13-year record high
The news of the stock exchange's integration into DESS is causing a frenzy among investors, who with their operations caused the shares of this exchange to grow by 380% during the first hours, reaching a total value of 0,33 USD per share. This value represents a new high for the stock exchange, whose highest level was seen in 2007.
On the other hand, although investor enthusiasm pushed NSX shares to a new all-time high, after about 30 minutes this growth began to fall relatively, reaching a value of $0,20 USD at press time, around 130% growth from its 2007 high.
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