ASX CHESS replacement to be delivered in phases, with clearing first in 2026

The Australian Securities Exchange announced in November it had chosen Tata Consulting Services to run the new CHESS replacement project after initial plans with Digital Asset were scrapped in 2022.

The Australian Securities Exchange will deliver its Clearing House Electronic Subregister System (CHESS) replacement in two phases with clearing to be rolled out first in 2026, followed by settlement and sub-register in either 2028 or 2029, based on current estimates. This comes after the exchange derecognized the software created during the first iteration of the replacement project with Digital Asset in November 2022 after more than 8 years of development and delays. 

“We’re taking a staged

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