Market finds solutions as it waits for ASX CHESS replacement

A fintech spun out of Citi’s custodian banking arm says it has already set up a platform to bring much-needed transparency and speed to proxy voting, an area of the market that the ASX’s troubled distributed ledger technology CHESS replacement was meant to fix., confirming that the April 2023 timeline was no longer achievable. ASX did not set a new schedule for its completion and corners of the market have started to doubt whether it is too ambitious.

“We chose technologies that they all use and trust today, which would reduce the cost and allow faster adoption,” Mr Little said. Backed by BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, HSBC, JP Morgan, State Street and most recently, BNP Paribas, Proxymity is already being used by 600 issuers connected via Computershare in Australia.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

No longer a dirty word: Retail investors discover ‘shorting’ stocksAmid a market rout in some sectors, social media engaged investors are beginning to ask about how they can short shares -- but often it’s not without risk.
Source: brisbanetimes - 🏆 13. / 67 Read more »

Drop in stablecoin value a ‘salient reminder that any market can be vulnerable’
Source: SkyNewsAust - 🏆 7. / 78 Read more »