ASX released its half year results today...but the area that caught my eye is slide 15 in the presentation pack outlining the opportunities for ASX from distributed ledger technology for post-trade innovation. On the issuer/listed company side, ASX notes electronic AGMS, streamlined/automated corporate actions and improved shareholder analytics. On the investor side, ASX notes consolidated view of holdings, choice of real-time access to securities/cash, real-time dividend payments, voting, simplified tax preparation, recording of sophisticated investor requirements. A number of these services are currently provided by other entities, notably share registries and corporate actions (eg Computershare). As Computershare's CEO noted in the half year results presentation yesterday, CPU is also across distributed ledger technology and actively considering what this means. What remains to be discussed is how revenues will flow within a new world of distributed ledgers. While ASX's CEO indicates an initial answer is about 18 months away (will this technology replace Chess?), I note his comment of how the ecosystem will change as the sequential processes that currently exist can be executed in a different manner.