ASX implementation of Distributed Ledger Technology will benefit super funds and members: ASFA

The ASX has today announced that it will be investing in an upgrade to its trading and post trading platforms, which has the potential to generate increasing benefits for the superannuation industry, according to the Association of Superannuation Funds of Australia (ASFA).

“As owners of 30 per cent of the equities traded on the ASX, superannuation funds and their members will benefit from the most efficient trading and settlement platforms,” explained James Bond, Director of External Affairs and Investment, ASFA.

“More efficient and simpler trading and post trading platforms could reduce the complexity and cost for superannuation funds.”

ASFA believes that the ASX’s investment in new technology could also lead to lower costs for superannuation fund members.

“It is important that Australia has the most up to date and the most efficient trading systems. As we have one of the largest and most highly regarded private pension systems in the world, the architecture that facilitates it also needs to continue to lead the world,” concluded Mr Bond.