Afternoon Coffee: Australian Securities Exchange to Run on Blockchain, Thirsty China Propels Aluminum Demand

Hoda Bogdan/Adobe Stock

The Australian Securities Exchange (ASX) announced Thursday it would begin using blockchain to clear and settle trades, according to Quartz. The move should reduce costs for customers and significantly speed up transactions. While the ASX would be the first mainstream equity market to employ blockchain, the NASDAQ, LSE and Japan Exchange Group are also reportedly looking into the technology.

Aluminum Demand

Rio Tinto expects Chinese demand to drive aluminum production to 4% annual growth in the coming years, according to Aluminum Insider. A shift from consuming soft drinks and beer in cans rather than glass in particular should drive the increased demand for the metal.

JDA-KPMG Alliance 

JDA Software and KPMG announced Wednesday a strategic alliance to help manufacturers and wholesale distributors “accelerate their supply chain strategies and harness digital transformation initiatives,” according to a press release.

“This announcement signifies our formal alliance with KPMG to deliver a more responsive and dynamic supply chain to our customers. Together, we provide improved visibility and shared insights into supply and demand information, while improving profits,” said Cary VandenAvond, regional vice president, manufacturing, distribution and 3PL, JDA. “With KPMG, we are delivering transformative supply chain management projects that take advantage of the latest in digitalization technologies, including big data, predictive analytics, mobility and the Internet of Things (IoT).”

Productivity Data

And finally, an economic update: US worker productivity rose at a 3% annual rate between July and September, the Wall Street Journal reports, the biggest jump in three years. Wages also showed signs of acceleration at a 2.7% growth rate but were still below historical averages.

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