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Tech services becomes a key business for the ASX – ARNnet


ASX CIO Dan Chesterman

ASX CIO Dan Chesterman

Credit: ASX

Investing in its digital footprint across areas such as distributed ledger technology (DLT), exploring potential use cases for artificial intelligence and expanding its data centre has turned technology services into a meaningful business for the ASX. 

During the VMworld conference this year in San Francisco, the CIO for the ASX Dan Chesterman explained how its investment in these technology areas were playing a part in the digital transformation for the financial industry, as technology services turn into an important business for the company that runs the Australian Securities Exchange. 

“Financial market infrastructures, and the ASX in particular, have got a good track record of using technology to help innovate the market, and ideally, drive the industry forward. That’s what we try to do,” he said. 

During a presentation, Chesterman said it made more money from technology services than what it made from trading, and went on to further explain that its trading technical services business had grown at a rate of 10 per cent per year, for the past eight years. 

“The reality is we don’t have a technology services business, if we don’t have trading,” he said. 





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