ASX launches consultation paper on new DLT system
27 April 2018 Sydney
Image: Shutterstock
The Australian Stock Exchange (ASX) has launched a consultation paper outlining the planned new features and timetable for a distributed ledger technology (DLT) system to replace Clearing House Electronic Subregister System (CHESS).
CHESS is the core system used by ASX to perform clearing, settlement and other post-trade services to the Australian equity market.
The decision to replace CHESS was made in December last year following two years of testing and development.
Feedback has been requested on business requirements captured in the plan, timing, testing, and transition arrangements for the new system.
The paper presents approximately 50 new business features delivered with the DLT system, describes the system architecture for the DLT-based model and the connectivity options for users, and explains the migration and implementation plan over the next two-and-a-half to three years.
The new system is estimated to go live between the Q4 2020 and Q1 2021, subject to completion of system development, stakeholder readiness and regulatory clearance.
The exchange has asked for feedback to the paper by 22 June.
CHESS is the core system used by ASX to perform clearing, settlement and other post-trade services to the Australian equity market.
The decision to replace CHESS was made in December last year following two years of testing and development.
Feedback has been requested on business requirements captured in the plan, timing, testing, and transition arrangements for the new system.
The paper presents approximately 50 new business features delivered with the DLT system, describes the system architecture for the DLT-based model and the connectivity options for users, and explains the migration and implementation plan over the next two-and-a-half to three years.
The new system is estimated to go live between the Q4 2020 and Q1 2021, subject to completion of system development, stakeholder readiness and regulatory clearance.
The exchange has asked for feedback to the paper by 22 June.
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