On 30 April 2019, Australian Securities Exchange (ASX) released the first of seven “drops” of software code into the “Customer Development Environment”. This marks the beginning of the introduction of the new equities clearing and settlement system, which ASX is developing to replace the existing CHESS system. The new system is based on distributed ledger technology (DLT) and promises to provide customers with access to real-time, synchronised, source-of-truth data.Read More
Recent technological innovations are transforming how financial activites are conducted and regulated. Technological advances have also resulted in disrupting traditional financial services and other related activities globally. In response to this, the Abu Dhabi Global Market introduced its legal framework regulating spot trading of crypto assets, including activities carried on by crypto asset exchanges, crypto asset custodians, and, where applicable, intermediaries engaged in crypto asset activities.
Please see our latest thinking here for a full discussion of Abu Dhabi’s new crypto asset legal framework.