CHESS 10 Project

CHESS 10 Project

Delivering new functionality and efficiencies for mFund users.

Welcome to the CHESS 10 Project website.  Here you will find information about everything to do with the CHESS 10 Project, technical specifications, educational material, key milestones and regular project updates.

CHESS 10 - Background

  • CHESS 10 is the name given to a CHESS technology release, which captures a number of regulatory and administrative enhancements for users of mFund.
  • CHESS 10 replaces the majority of the current manual process occurring outside of CHESS for CRS data collection. 
  • mFund currently provides through CHESS, a mechanism for accepting a participant’s confirmation that FATCA (US-only regulation) checks have been conducted on an investor. The CHESS 10 release builds upon the FATCA approach and provides a more comprehensive set of data to cater to both FATCA & CRS. 
  • CHESS 10 also includes a range of efficiency improvements to enhance the user and investor experience. 
  • The final CHESS 10 solution is the result of operational roundtables and one-on-one meetings between ASX and participants/issuers over the past six months. ASX acknowledges and thanks the mFund community for their significant contribution and support during this process.

Project Timeline

CHESS 10 target timeline

CHESS 10 Overview

CHESS 10 project overview1

CHESS 10 Notices

CHESS Release 10.0 - mFund Settlement Service Enhancements2 - ASX Notice 0200.18.03

CHESS Release 10.0 - mFund Settlement Service Enhancements3 - ASX Notice 0269.18.03

CHESS Release 10.0 - Testing and Vendor Accreditation4 - ASX Notice 0574.18.05

mFund Settlement Service - CHESS Release 10 Go-Live5 - ASX Notice 0893.18.08

mFund Settlement Service - CHESS Release Go-Live November 20186 - ASX Notice 1265.18.11

CHESS 10 Procedures and APGs

ASX Settlement Operating Rules Procedures7

ASX Operating Rules Procedures8

APG Section 28 - mFund Settlement Service9

APG Section 31 - Foreign Tax Compliance10

CHESS 10 Technical Specifications

Business and technical specifications v1.011 - 1 February 2018

Business and technical specifications v1.112 - 15 March 2018

Business and technical specifications v1.213 - 23 March 2018

Business and Technical specifications v1.314 - 6 April 2018

Business and Technical specifications v1.415 - 11 April 2018

Business and Technical specifications v1.516 - 9 July 2018

Business and Technical specifications v1.617 - 13 July 2018

Business and Technical specifications v1.718 - 23 July 2018

Business and Technical specifications v1.819 - 1 August 2018

Business and Technical specifications v1.920 - 27 August 2018

Supporting Information

Australian Tax Office - Foreign tax resident reporting21

FSC/FPA Industry Guidance Note 23 - Managing AML/CTF, FATC and CRD customer identification obligations - 19 May 201722

The FSC Guidance Note is also accompanied by 13 forms (Schedules) designed to assist in managing customer identification obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act and certain customer due diligence obligations under the (United States) Foreign Account Tax Compliance Act (described as “FATCA”). 

FSC Members (free):
• For free copies of the 13 forms, FSC members may contact Sharon Sherry of the FSC at ssherry@fsc.org.au23 or on (02) 9299 3022.

Non-Members (licence):
• Non-members may use, adopt or access the forms under licence. For information on the licence terms and licence fee, please contact FSC at info@fsc.org.au24 or on (02) 9299 3022.

Copyright in the forms is owned by the FSC and the Financial Planning Association. The FSC and FPA permit non-members to use the forms upon payment of the applicable licence fee.

Other Technical Specifications

CHESS Access Upgrade v1.025

CHESS PC Upgrade v1.026

Overview of new and amended messages27

CHESS 10 Flowcharts

Initial application28

Subsequent application29

HIN to HIN transfer30

CRS maintenance31

Investor details maintenance32

External Testing Guidelines

External user testing guidelines for mFund PISP33

External user testing guidelines for mFund settlement participants 34

CHESS 10 contact details

For all enquiries with regards to the CHESS 10 Project, please email CHESS10@asx.com.au35

 

Links

  1. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Project-overview.pdf
  2. https://www.asxonline.com/public/notices/2018/mar/0200.18.03.html
  3. https://www.asxonline.com/public/notices/2018/mar/0269.18.03.html
  4. https://asxonline.com/public/notices/2018/may/0574.18.05.html
  5. https://asxonline.com/public/notices/2018/aug/0893.18.08.html
  6. https://asxonline.com/content/asxonline/public/notices/2018/nov/1265.18.11.html
  7. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/ASX-Settlement-Operating-rules-Procedures-CHESS10-EDM.pdf
  8. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/ASX-Operating-Rules-Procedures-CHESS10-EDM.pdf
  9. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/APG-28-MFUND-3.6.pdf
  10. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/APG-31-foreign-tax-compliance-3.6.pdf
  11. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification.pdf
  12. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.1.pdf
  13. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.2.pdf
  14. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.3.pdf
  15. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.4.pdf
  16. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.5.pdf
  17. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.6.pdf
  18. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.7.pdf
  19. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.8.pdf
  20. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Business-Technical-Specification-v1.9.pdf
  21. https://www.ato.gov.au/individuals/international-tax-for-individuals/in-detail/foreign-residents-reporting/foreign-tax-resident-reporting/
  22. https://www.fsc.org.au/resources/guidance-notes/24GN-FSC-FPA-AML-FATCA-and-CRS-Guidance-19-May-2017.pdf
  23. mailto:ssherry@fsc.org.au
  24. mailto:info@fsc.org.au
  25. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESSAccess-upgrade-V1.0.pdf
  26. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESSPC-upgrade-V1.0.pdf
  27. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-overview-of-new-and-amended-messages.pdf
  28. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Initial-Application.pdf
  29. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Subsequent.pdf
  30. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-HIN-to-HIN-transfer.pdf
  31. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-CRS-Maintenance.pdf
  32. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/CHESS10-Investor-Maintenance.pdf
  33. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/External%20User%20Testing%20Guidelines%20for%20PISP%20mFund.pdf
  34. https://asxonline.com/content/dam/asxonline/public/documents/CHESS-10-Project/External%20User%20Testing%20Guidelines%20for%20Settlement%20Participant%20mFund.pdf
  35. mailto:CHESS10@asx.com.au