Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 58 results for "CHESS Replacement"

ASX revenues, profits increase amid scrutiny

MATTHEW WAI  |  FRIDAY, 15 AUG 2025
... has commenced legal proceedings against the ASX for allegedly making misleading statements in relation to the CHESS replacement project. "We've experienced heightened regulatory scrutiny following the CHESS Batch Settlement Incident last December and ...

ASIC appoints ASX inquiry panel

MATTHEW WAI  |  THURSDAY, 26 JUN 2025
... continued confidence in ASX." The inquiry follows ASIC suing the ASX over misleading statements related to its CHESS replacement project. The ASX recently sold out of its stake in Digital Asset, the firm it partnered with in 2016 to build the doomed ...

ASIC launches fresh inquiry into ASX

KARREN VERGARA  |  MONDAY, 16 JUN 2025
... ASIC is currently suing the ASX in the Federal Court for allegedly making misleading statements related to its CHESS replacement project. "While this inquiry is underway, it is critical ASX continues to prioritise the safe and efficient operation of ...

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 the outdated the system.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 ...