Thu, Dec 9, 2021
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Sydney Stock Exchange blockchain project reaches first milestone

Tuesday, October 04, 2016
Opalesque Industry Update - APX Settlement Pty Limited, the Sydney Stock Exchange’s joint venture with Bit Trade Labs to develop a blockchain based settlement solution, has successfully prototyped its blockchain smart register for real-time issuance and allocation of equity securities. This marks the first step towards the objective of building an instantaneous settlement-and-transfer-upon-trade (T-based DvP) platform.

APXS announced the blockchain settlement and registration initiative in May this year, initially for application at APXS sister company the Sydney Stock Exchange’s equities and private markets platforms.

APXS distinguishes itself by taking a collaborative approach with industry and market participants. Demonstrating this open approach, the development has been done in collaboration with BoardRoom Pty Limited, a Sydney based share registry service.

APXS intends to extend the smart register beyond equity securities to commodities markets, opening up opportunities for government and industry to transform markets currently hampered by antiquated structures and technology.

APXS is now evaluating the appropriate infrastructure for its production environment and is now working with leading industry assurance and cyber security experts to develop verification methodologies to address systemic risks.

APXS CEO David Lawrence said, “We are working with government, regulators, the Australian Digital Currency and Commerce Association (ADCCA) and our expanding group of industry partners to deliver innovative solutions using new technologies. Our ongoing program of development highlights the need for a technology agnostic regulatory environment to fully maximise the value of the emerging technology and competition.”

Jonathon Miller, Director of Bit Trade Labs, said “Even at the early stages of this project we have found that taking a bold approach to development and working closely with collaborators is yielding exciting results. The scale of value and efficiencies that can be achieved through the use of a smart register promise to far exceed our initial expectations.”

Tony Sacre, CEO of Sydney Stock Exchange (SSX), said “SSX is looking to be a leader in the provision of markets for emerging technology companies, filling the void for this sector being exacerbated by ASX changes to its listing rules. We think the adoption of an innovative settlement and smart register service is well aligned with this objective.”

APX Settlement (APXS) is a joint venture between the Asia Pacific Group Holdings Pty Limited, owner of the Sydney Stock Exchange, and Bit Trade Labs.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Tiger funds change some stripes, Melvin Capital's comeback plan, What's behind Sachem Head's surge?, One of Asia's oldest hedge funds is buying distressed China debt[more]

    Tiger funds change some stripes From Institutional Investor: Falcon Edge, Light Street, Lone Pine, Viking, and Hound made significant buys and sells in the third quarter. Falcon Edge Capital Management exited its two largest U.S. long positions in the third quarter, according to

  2. SPACs: Hambro Perks eyes first London SPAC listing under new rules, SPACs churn out restatements, again, to correct accounting, Investment manager's SPAC Investcorp Europe Acquisition I files for a $250m IPO[more]

    Hambro Perks eyes first London SPAC listing under new rules From Bloomberg: U.K. venture capital firm Hambro Perks Ltd. aims to raise 140 million pounds ($187 million) listing a special purpose acquisition company in London, in what could be the market's first major blank-check offerin

  3. New Launches: Fundraise for Stonepeak's infrastructure fund reaches $11.4bn, Crypto-focused 10T Holdings to raise $500m in new fund, Stewart Investors' Sustainable Funds Group launches emerging markets sustainability fund, Tilney unveils 'adventurous' multi-asset sustainable fund, PineBridge looks to anchor first-time private equity fundraises with new $334m fund, MTIP holds $250m final close for second fund[more]

    Fundraise for Stonepeak's infrastructure fund reaches $11.4bn From IPE: Stonepeak Infrastructure Partners has so far raised $11.4bn (€10.1bn) for its fourth fund, according to sources that track capital raisings. The amount raised by the Stonepeak Infrastructure Fund IV exceeds

  4. Coinbase co-founder launches biggest VC fund in crypto, Valkyrie launches $100m DeFi hedge fund, Kyle Bass says the big money has been made in bitcoin[more]

    Coinbase co-founder launches biggest VC fund in crypto From the FT: Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang have finished raising $2.5bn this month for Paradigm One, their first venture capital fund. Investors jockeyed to commit money to the fund, allo

  5. London hedge funds Eisler and Glen Point Capital plan rare $6bn merger[more]

    From City AM: Eisler Capital is planning to snap up Glen Point Capital in a rare deal between two players in London's hedge fund industry. Eisler, a multi-strategy investment funds with $4.5bn under management will raise company assets by $1.5bn bring in a new trading team and add three funds to aid