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ā¢ Australian stock exchange operator ASX has hired Tata Consultancy Services to overhaul its clearing and settlement software, opting for a less customized approach after abandoning its blockchain-based effort.
ā¢ The overhaul is expected to finish in 2029, with the first stage of the project, clearing software, to be delivered around 2026.
ā¢ The failure of ASX's blockchain-based project resulted in a A$176.3 million writedown and an investigation by the Australian Securities and Investments Commission.