ASX confirms it has identified the issue that was affecting batch settlement processes in the CHESS system and has implemented a resolution to restore service. The issue resulted in trades from Wednesday 18th December not being settled on Friday 20th December.
With the resolution we’re implementing, we now expect the market to open as normal tomorrow, Monday 23 December. Settlement for trades that took place on 18 and 19 December will now be processed on 23 December.
Chief Information Officer Tim Whiteley said: “We recognise the significant disruption this caused on Friday to our stakeholders and we apologise for that. We were speaking to customers and stakeholders all through Friday and at points across the weekend. We acknowledge there were challenges and we appreciate all their actions to manage the issue.”
ASX has implemented a plan to manage for the additional volume of settlement and recognises that this may take longer than the usual end of day processing time.
We have continued to keep our stakeholders and regulators updated throughout this period.
“Our teams worked through the weekend and late into the night to address the issue. Our analysis showed that the technical issue related to an error in a data file and we did not uncover evidence of malicious activity from an external or internal source.”
