To facilitate the implementation of the new system that will replace CHESS in April 2021, ASX needs to make amendments to the ASX Settlement Operating Rules, ASX Clear Operating Rules and ASX Operating Rules.
ASX has today released a consultation paper on the first of three tranches of rule amendments required to support the operation of the new system. These relate to accounts, participants, securities and pre-settlement aspects for Day 1 CHESS replacement system functionality.
The consultation paper invites feedback from users and other stakeholders on the operation of the draft tranche 1 rule amendments, including any unintended consequences. Written submissions are requested by 17 January 2020.
Further information on the replacement of CHESS is available at the ASX CHESS Replacement web page.
Con Korkofigas
Senior Manager and Senior Legal Counsel
Con Korkofigas
Adriana Wild Taylor
Legal Counsel