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Showing 11 - 20 of 55 results for "CHESS Replacement"

ASX offloads interest in Digital Asset

MATTHEW WAI  |  FRIDAY, 13 JUN 2025
... has sold its shareholding in Digital Asset Holdings, the firm it partnered with in 2016 to build the doomed CHESS replacement. The sale price is approximately $57 million, with a pre-tax gain of about $42 million compared to ASX's current carrying value ...

ASX admits CHESS tech staff 'stretched'

ELIZA BAVIN  |  THURSDAY, 1 MAY 2025
... delayed several days' trade settlements. This outage was the final straw in several delays and issues with the CHESS replacement which has caused regulators to call for change. Now, the ASX has revealed several key findings from the review, which ...

Treasury responds to CHESS replacement inquiry

ELIZA BAVIN  |  TUESDAY, 4 MAR 2025
... Committee on Corporations and Financial Services report, Competition in clearing and settlement and the ASX CHESS Replacement Project: The CHESS Replacement Project is too important to fail, which examined ASIC, the Takeovers Panel, and the corporations ...

Traders left scrambling over ASX settlement outage

MATTHEW WAI  |  MONDAY, 23 DEC 2024
... the outdated the system. It also follows ASIC's legal proceeding against the ASX in August regarding the CHESS replacement project, alleging the exchange made misleading or deceptive statements on the process in February 2022. "ASX's statements ...

ASX says CHESS Release 2 costs to hit $320m

ELIZA BAVIN  |  TUESDAY, 26 NOV 2024
... (ASIC) launched proceedings against the ASX in August for allegedly making misleading statements related to the CHESS replacement project. ASIC alleged statements made in ASX announcements on 10 February 2022 that the project remained "on-track for go-live" ...

ASX files defence against ASIC proceedings

ELIZA BAVIN  |  FRIDAY, 15 NOV 2024
... provided an update on its defence against the legal proceedings filed against it by ASIC over its handling of the CHESS replacement project. The ASX filed a Concise Statement in response to the proceedings brought by ASIC in the Federal Court on August ...

ASX chair to retire, successor named

MATTHEW WAI  |  WEDNESDAY, 11 SEP 2024
... re-elected at ASX's 2023 AGM, however has been under immense pressure in recent years particularly in relation to the CHESS replacement project. ASIC has initiated legal action against the stock exchange, alleging it made misleading statements related ...

ASX lifts revenue amid lower listings, capital raises

KARREN VERGARA  |  FRIDAY, 16 AUG 2024
... of $176.3 million was recognised in FY23 because of the derecognition and associated write down costs of the CHESS Replacement project. The ASX has four core business units: listings, markets, technology and data, and securities and payments. Total listings ...

ASX sued by ASIC for alleged misleading statements

ELIZA BAVIN  |  WEDNESDAY, 14 AUG 2024
... taking ASX forward and have made strong progress as an organisation over the past two years." Longo said ASX's CHESS replacement is a technology project of "fundamental significance", replacing critical national infrastructure crucial to the operation ...

ASIC proposes cash equity clearing and settlement rules

ANDREW MCKEAN  |  TUESDAY, 30 JUL 2024
... Simone Constant said it is moving quickly to develop and implement these rules, which require that, during the CHESS replacement program and beyond, the ASX remains responsive to users and does not create barriers to competition. "Importantly, the rules ...