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ASX LIMITED

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ASX : delays blockchain transition until 2023

10/27/2020 | 09:18pm EDT
FILE PHOTO: A board displaying stock prices is seen at the Australian Securities Exchange in Sydney

SINGAPORE (Reuters) - Australia's bourse operator, ASX Ltd, has pushed back the launch date of its pioneering blockchain-based clearing system until April 2023, the company said on Wednesday.

ASX had flagged a delay to the project, which was scheduled for 2021, amid market turmoil in March. A proposed target of April 2022 has now been moved to 2023 after consulting market participants, ASX said in a statement.

"The industry ... requested substantially more post-trade processing capacity than what had been contemplated pre-COVID-19," the company said.

"This is in response to the extreme increases in trading volumes on the ASX platform during the most volatile period of the pandemic in March."

The new system will replace the Clearing House Electronic Subregister System (CHESS) on Australia's main bourse and provide the option of accessing distributed ledger technology, one example of which is commonly known as blockchain.

(Reporting by Tom Westbrook; Editing by Christopher Cushing)


ę Reuters 2020
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Sales 2021 939 M 694 M 694 M
Net income 2021 473 M 350 M 350 M
Net cash 2021 13 313 M 9 843 M 9 843 M
P/E ratio 2021 31,8x
Yield 2021 2,84%
Capitalization 15 046 M 11 089 M 11 124 M
EV / Sales 2021 1,85x
EV / Sales 2022 1,29x
Nbr of Employees 737
Free-Float 98,6%
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Number of Analysts 13
Last Close Price 77,72 AUD
Average target price 72,89 AUD
Spread / Average Target -6,21%
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Managers and Directors
Dominic J. Stevens Chief Executive Officer, Executive Director & MD
Gillian Larkins Chief Financial Officer
Damian Roche Chairman
Dan Chesterman Chief Information Officer
Timothy J. Hogben Chief Operating Officer
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