Gilbert + Tobin are thrilled to be advising ASX on the implementation of a new platform to replace the CHESS clearing and settlement system using distributed ledger technology (DLT).

The distributed ledger-based platform, developed by New York start-up Digital Asset Holdings, will be one of the world’s first enterprise-grade implementations of DLT for critical infrastructure.

Gilbert + Tobin Technology + Digital partner, Simon Burns said “G+T are thrilled to be advising ASX on this complex deal, utilising the firm’s deep knowledge of emerging technology, complex contracting and regulatory requirements.”

Gilbert + Tobin will continue to work closely with ASX as it puts in place the full contractual arrangements with Digital Asset Holdings for the development and support of the new CHESS replacement system.

The Gilbert + Tobin team is led by partners Simon Burns, Elizabeth Avery, Paula Gilardoni and Michael Williams, who are working closely with ASX across this ongoing transaction.