RBA voices concern over exchange’s failure to replace system
Politicians will question whether regulators have sufficient powers over securities exchange
Australia’s central bank and its securities regulator have expressed strong dissatisfaction with a major financial exchange over its failure to upgrade its infrastructure.
Australian media reported politicians were critical of how the Reserve Bank of Australia and the country’s securities regulator had overseen the project. The Australian Securities Exchange (ASX) has been attempting for several years to replace its Chess clearing and settlement system with a blockchain-based approach.
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