ASX on the hunt for new CIO after Thurman hands in his notice

The Australian Securities Exchange has started the search for a new chief information officer, with Tim Thurman to head back to Canada early next year.
Written by Asha Barbaschow, Contributor

The Australian Securities Exchange (ASX) has confirmed it is on the hunt for a new technology head after CIO Tim Thurman announced his resignation on Thursday.

Thurman will head back to Canada for family reasons, where he has also accepted another opportunity, the ASX said.

The outgoing CIO will finish up at the exchange by April next year, and will continue to oversee the implementation of ASX's new derivatives trading platform, due to go live by the end of February 2017.

"Tim has made a significant contribution to ASX at a critical time of growth and innovation over the past four-and-a-half years. We thank him and wish him well for the future," ASX CEO Dominic Stevens said in a statement.

The exchange recently said its blockchain initiative is on track for a final decision in the second half of 2017, with the prototype complete and the organisation moving to build an "industrial-strength solution" to use as its equity settlement and clearing platform.

The ASX had announced in June that it was building a new post-trade solution using blockchain technology, asking for market feedback. This followed the ASX enlisting US-based firm Digital Asset at the start of the year to help it develop blockchain solutions for the equity market.

The organisation has been planning to replace or upgrade its trading and post-trade platforms for over a year.

The ASX lost its managing director and chief executive officer Elmer Funke Kupper in March, with Kupper's positions terminated with immediate effect. At the time, the board appointed Rick Holliday-Smith to the role of CEO, before officially appointing Stevens.

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