Australian Exchange Pauses Delayed Blockchain Project (1)

Australia’s main exchange is reassessing plans to replace its settlement and clearing platform with a blockchain-based system after reviews, suspending work on the years-long project that’s been plagued by delays.

ASX Ltd. will revisit all aspects of its work to swap its Clearing House Electronic Subregister System, known as CHESS, for newer technology following an independent review by Accenture Plc and its own internal assessment, the Sydney-based firm said in a statement Thursday.

“While ASX is keen to embrace technology that benefits the market, it’s clear we need to revisit the solution design as well as validate and test the ...