The Federal government this morning opened up the potential for competitors including Blockchain technology to disrupt the ASX Limited’s (ASX: ASX) monopoly over the clearing of cash equities.
The government’s reforms contain a quid pro quo for the ASX in that the bourse will now have more access to overseas capital, after its ownership limit was raised to 15% to match that of the banks like Commonwealth Bank of Australia (ASX: CBA). The ASX also announced it will cut its equities clearing fees by 10% from July 1 2016.
The Turnbull government is clearly alert to the potential of Blockchain technology and first flagged its…
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