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Showing 1 - 10 of 23 results for "CHESS Replacement Project"

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
... outdated the system.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 go ...

ASX says CHESS Release 2 costs to hit $320m

ELIZA BAVIN  |  TUESDAY, 26 NOV 2024
... 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
... 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 13. ASIC ...

ASX chair to retire, successor named

MATTHEW WAI  |  WEDNESDAY, 11 SEP 2024
... 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 to the progr ...

ASX lifts revenue amid lower listings, capital raises

KARREN VERGARA  |  FRIDAY, 16 AUG 2024
... $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
... relied on assurances as to the progress of the project and scheduled go-live date." Longo added that the CHESS replacement project must be managed "effectively and transparently". "Failure to do so can lead to a lack of confidence in Australia as a market ...

ASX advances CHESS replacement project

ANDREW MCKEAN  |  THURSDAY, 13 JUN 2024
The ASX announced today that the CHESS replacement project has entered the delivery phase. This follows a decision to proceed with a product-based solution developed by global technology firm Tata Consultancy Services. ASX chief information officer ...

ASX profits hit by CHESS setbacks, acts on review findings

ANDREW MCKEAN  |  THURSDAY, 17 AUG 2023
... last financial year had been difficult following the disappointing but necessary decision to pause the CHESS replacement project last November, acknowledging confidence in the bourse had been tested. "When we first embarked on this transformational piece ...

ASX appoints former ASIC chair to lead advisory group

CASSANDRA BALDINI  |  THURSDAY, 3 AUG 2023
... registry services, and markets. The primary focus of the group will be to offer industry input for the CHESS replacement project in its initial stages. Cameron, who formerly served as ASIC chair for eight years, was welcomed at a roundtable held yesterday ...
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