AUSTRALIA: ASX Announced Chess Replacement Project

Thursday May 12 2022

On 11^th May 2022, the Australian Securities Exchange (ASX) advised the market about changes to the CHESS application software release schedule and indicated there was a strong likelihood that the April 2023 go-live date would change.

ASX confirms that April 2023 for go-live is no longer viable. This decision reflects the delay to the remaining delivery of application software, which no longer gives ASX and CHESS users the time allocated to complete their testing and other readiness activities before April 2023.

 A new go-live date will be determined after further planning with ASX’s technology partner and input from stakeholders on the timing of project milestones, including industry testing, operational readiness, market dress rehearsals and implementation.

ASX’s priority remains to deliver CHESS replacement in a manner that balances safety and efficiency. Ongoing engagement with the industry is a vital ingredient. The existing CHESS system remains robust and continues to perform well in the meantime.

The project update is available here.

Click on the above link for further information