ASX says new CHESS clearing system connected to all market operators for market open (updated)

ASX

20/04/2026 01:24

Adds details from paragraph 3 onwards

April 20 (Reuters) - Australia's ASX ASX.AX said on Monday its new clearing system, Clearing House Electronic Subregister System (CHESS) Release 1, was connected to all approved market operators and was ready for market open.

The stock exchange operator said it will closely monitor the application throughout the day.

The new system comes after its attempt more than nine years ago to upgrade the settlement system failed, inviting criticism from the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia.

"The increased market volatility we've witnessed in the past few weeks highlights the importance of providing resilient infrastructure that can process increased volumes, and CHESS also has the ability to scale further when needed," said departing ASX MD and CEO Helen Lofthouse.

Work on Release 2, which will provide settlement and sub-register services, is progressing, ASX said, adding that it was working towards its delivery in 2029.

Shares of the company rose as much as 0.6% to A$59.38 in early trade.

 (Reporting by Sneha Kumar in Bengaluru; Editing by Christopher Cushing and Subhranshu Sahu)

 ((Sneha.Kumar@thomsonreuters.com;))