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3/20/2018, 9:17 AM (Source: TeleTrader)
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HKEX, ASX cooperating on blockchain technology

Operators of equity markets in Hong Kong and Sydney are working to "share information" about blockchain technology, which is behind digital currencies such as Bitcoin, the Financial Times reported on Tuesday. Hong Kong Exchanges and Clearing Ltd.'s chief Charles Li told the news outlet his company aims at "sharing vendor relationships." The Hong Kong Stock Exchange, or HKEX, is looking at potential the solutions have for stock borrowing and lending and over-the-counter (OTC) transactions, he added.

The CEO added the cooperation with the Australian Securities Exchange Ltd. comes from the need to reduce expenses. ASX has introduced software for clearing and settlement together with Digital Asset Holdings. Li revealed his company's blockchain project for a private financing market for small companies has stalled as entities that were hired as developers shifted focus away from the sector.

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