The NSX will be its own entity weaned off the ASX boob, with their already approved licence and new transaction technology. Its a good thing this dependability will end. NSX use the NASDAQ engine so there will be no disruption to trade. DESS is critical but apparently not for the monopoly companies who have obviously underestimated their new model probably due to it already being outdated.
In a nutshell...
"This is a critical first step to allow the NSX to create facilities independent of ASX Clear, consistent with the NSXA Australian Market Licence Variation Notice 2018 (No.1), s5 ‘Clearing and Settlement Arrangements’. 2 The DLT will also in future be used to confirm trades, transfers, and manage tracking (by identity) of trades. The DLT will allow for elimination of dark pools, as well as allow NSXA to satisfy AML/CFT requirements by running PEP/Sanction screening on trades in real time using the buyers and sellers’ details. The NSXA will be one of the world’s first Tier 1 exchanges to record transactional trading data to the blockchain." NSX Ann 20-10-20
E.
NSX Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
