AUSTRALIA: ASX Publishes a Response Paper Summarising Feedback Received on the Consultation

Friday July 11 2025

On 10^th July 2025, ASX Clear and ASX Settlement (ASX) published a Consultation Paper titled ‘CHESS Project – Consultation on Release 1 (Clearing Services) – Amendments to Rules and Procedures’ seeking feedback on proposed amendments to the:

• ASX Clear Operating Rules (ASX COR);
• ASX Clear Operating Rules Procedures; and
• ASX Operating Rules Procedures.

The proposed amendments to the Rules and Procedures facilitate the implementation of Release 1 of the Clearing House Electronic Subregister System (CHESS) replacement system. Consultation closed on 14 April 2025 following a six-week consultation period.

In response to the proposed amendments set out in the Consultation Paper, ASX received submissions from 4 stakeholders, including from two Approved Market Operators (AMOs), one Participant and one industry association.

Feedback received from one AMO was substantive, with the other respondents either not providing any comments, or indicating that the proposed amendments did not give rise to any issues or unintended consequences.

As a result of the feedback received to the Consultation Paper on the Rules and Procedures, ASX has:

• further explained why ASX considers that no changes are required to the Rules and Procedures to:
  • give effect to the new ‘pending trade’ functionality; and
  • remove the requirement for delivering and receiving PIDs (Process Identifiers) to be included in the particulars of a Cash Market Transaction; and
• amended the proposed changes to the AMO Contractual Terms to address queries or concerns raised in relation to the proposed Rules and Procedures changes.

Click on the above link for further information