On 2 December 2019, ASX published a notice regarding the formal lodgement of amendments to the ASX Settlement Operating Rules in respect of transfers to the CHESS subregister.

These amendments have now received regulatory clearance.

Accordingly, ASX confirms that these rule amendments will become effective on Wednesday, 18 December 2019.

Further information on the rule amendments, including a copy of the amendments, is contained in the notice referred to above. 

What do I need to do by when?

ASX will begin accepting applications from settlement-only participants that wish to apply to be recognised as a custodial settlement participant from 18 December 2019. Settlement-only participants wishing to apply to become a custodial settlement participant can do so by emailing Participants.Compliance@asx.com.au.

Issuers (and their registry) will be able to identify whether a settlement-only participant is a custodial settlement participant as they will have a Broker Non Broker Indicator of “B” in the following CHESS transfer and conversion messages (CHESS messages 404, 408, 416, 418, 716 and 719).  ASX will also publish information which identifies the participants that ASX has recognised as a “custodial settlement participant”.

Settlement only participants that are not recognised by ASX as a custodial settlement participant will continue to be identified through the Broker Non Broker Indicator “N” (ie non-broker participant) indicating to issuers (and their registry) that a paper transfer document needs to be received and validated by the issuer before processing the transfer.

Need more information?

Issued by

Con Korkofigas
Senior Manager and Senior Legal Counsel

Contact information

Con Korkofigas
Senior Manager and Senior Legal Counsel
con.korkofigas@asx.com.au

Bill Woods
Principal Adviser
bill.woods@asx.com.au

Adriana Wild Taylor
Legal Counsel 
adriana.wild-taylor@asx.com.au   

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