20th JUNE 2018, LONDON

At the EXTENT-2018 event held by Exactpro on 20 June 2018 in London, Timothy Hogben, Chief Operating Officer with ASX, spoke with Elena Trescheva, Exactpro’s Business Development Manager and Researcher. Mr. Hogben elaborated on the exchange’s plans to replace CHESS (Clearing House Electronic Subregister System) with a DLT based system.

Interview: Disruptive Technologies and Blockchain

September 5, 2018

At the EXTENT-2018 event held by Exactpro on 20 June 2018 in London, Timothy Hogben, Chief Operating Officer with ASX, spoke with Elena Trescheva, Exactpro’s Business Development Manager and Researcher. Mr. Hogben elaborated on the exchange’s plans to replace CHESS (Clearing House Electronic Subregister System) with a DLT based system.

In his interview, Mr. Hogben spoke about ASX’s plans of implementing a blockchain system, the main findings from a two-year exploratory process, the exchange’s transition to Agile and how it has affected the overall delivery process.

My main responsibility is for the live environments and I run technology in the operation groups. We have about six licenses across trading, clearing and settlement and run a large data center colocation facility for the exchange as well. So we, like most exchanges in this world, are a global market. We are open 24 hours about five and a half days a week and we compete very hard in a very competitive space. The exchange space is a very competitive space. We are a top-ten exchange globally and we do that really hard from an innovation perspective and using technology really well, so we can't afford to have mistakes and make mistakes with our choices. And, you know, we are about one third of the size of other exchanges from a people perspective, so the use of technology is significant in our footprint. In saying that you know we've certainly gone down a path and taken a leadership position in blockchain technology quite rare for the exchange”.

 

The most recent update on the CHESS replacement with DLT is available in the CHESS Replacement: New Scope and Implementation Plan.


About Tim Hogben

Timothy Hogben is Chief Operating Officer of the Australian Securities Exchange (ASX). Mr. Hogben has the overall responsibility for the live service environment at ASX. This incorporates compliance with licensing conditions, execution of the organization’s business strategy and delivering service excellence to customers. Additionally, he has the responsibility for overseeing various clearing and settlement facilitation services provided by ASX to Chi-X Australia, National Stock Exchange of Australia Limited (NSX) and Sydney Stock Exchange (SSX).

About EXTENT

The EXTENT series events bring together practitioners to share their experiences working at exchanges, investment banks, brokerages, clearing, buy-side and other financial organisations, as well as academia, to present their expertise in software testing, verification and reliability areas. More about EXTENT: extent.exactpro.com