Latest updates
On 3 March 2025, ASX released two consultation papers to support Release 1 of CHESS replacement. The first is ASX’s Consultation on Release 1 (Clearing Services) – Amendments to Rules and Procedures. The second is ASX’s Consultation on Release 1 (Clearing Services) – Amendments to AMO Contractual Terms. Responses to both consultation papers are requested by 14 April 2025.
On 28 February 2025, ASX announced the opening of the Release 1 Industry Test Environment (ITE) and the commencement of the AMO Build and Test phase - a significant milestone in the delivery of the CHESS Project. ASX has created a central hub with information on industry testing, which will allow users to monitor the environment status, access the latest release notes, and track the status of open issues.
On 24 February 2025, a stakeholder communication was issued to Approved Market Operators and their Software Providers, informing them that the CHESS Project Industry Test Environment (ITE) was due to open later that week on 28 February 2025 — a significant milestone that will allow Approved Market Operators to connect to CHESS's new clearing component in a test environment. ASX has created a central hub with information on industry testing.
On 20 February 2025, an independent expert report on the assessment of ASX’s Assurance Plan for the implementation of the CHESS replacement project was published. The report is available here.
On 26 November 2024, ASX released two responses to consultation feedback. The first is ASX’s response to consultation feedback on the Consultation on the scope and implementation of CHESS replacement Release 2 (settlement and subregister) published on 2 August 2024. The second is ASX’s response to consultation feedback on the consultation on the Development Incentive Pool future milestones for the CHESS replacement Partnership Program published on 17 April 2024. Both papers summarise the feedback received and provide ASX’s responses.
On 16 September 2024, ASX released a consultation paper titled seeking feedback on the proposal to adopt a new pricing policy for ASX’s clearing, settlement and issuer services from 1 January 2025. The policy is designed to ensure that ASX recovers no more than its efficient costs of service provision, including a reasonable return on investment commensurate with the commercial risks involved. The consultation paper can be found here and an accompanying set of Q&A can be found here.
On 2 August 2024, ASX released a consultation paper on the scope and implementation of CHESS replacement Release 2 (settlement and subregister). The consultation paper outlines ASX's proposed plan for Release 2 of the CHESS replacement system, seeking feedback on design, scope, schedule, and transition for Release 2, a plan for timing and approach on a potential shift to T+1 settlement cycle, as well as interoperability, testing and industry readiness approaches. The consultation paper is available here, and you can read the media release here.
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ASX will provide information on the CHESS Replacement project to stakeholders through a variety of resources including stakeholder communications, activities and committee meetings.
