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Stakeholder engagement

ASX recognises the importance of meaningful engagement with customers and other stakeholders in managing its cash equities clearing and settlement infrastructure and services for the Australian market. 

ASX utilises a range of mechanisms and forums to obtain user input to ensure the cash equities clearing and settlement services it provides meets the needs of the diverse range of customers and other stakeholders in the Australian market.  These consultative mechanisms include bilateral customer engagement, hosting industry working groups, undertaking broad based public consultation processes and structured regular engagement through the ASX Business Committee.

In recognition of the significance of the ASX project to replace the system that provides cash equities clearing and settlement services (CHESS), ASX designed a series of activities to engage with relevant stakeholders. 

ASX has also established an extensive stakeholder engagement strategy including establishing new committees, working groups and focus groups. 

Market Consultations

In September 2016, ASX issued a consultation paper seeking industry feedback on their requirements for CHESS replacement. This culminated in a series of industry working groups in 2017. 

In April 2018, ASX released a follow up consultation paper to understand if there were any additional business requirements not captured from the working groups as well as seeking feedback on other aspects of the project such as the implementation approach. 

In September 2018, ASX released its response to consultation feedback including confirming the Day 1 scope and implementation timeline. 

ISO 20022 Technical Committee

ASX established the ISO 2022 Technical Committee to engage with industry stakeholders on the adoption of the ISO 20022 global messaging standard. The Technical Committee comprises a large cross section of industry representatives, including clearing participants, settlement participants, unaffiliated market operators, software vendors, share registries, APCA, SAFAA, and SWIFT.  

Working Groups 

In 2017, ASX held a series of industry working groups to capture business requirements from a range of industry stakeholders. 

In October 2018, ASX convened the Connectivity and Integration Working Group to work collaboratively with all relevant stakeholders on their assessment of the different connectivity options for integration, and to assist stakeholders in their own system development and connectivity activities. 

In March 2019, ASX convened the Implementation and Transition Working Group to develop a collaborative, marked-wide implementation and transition plan and to support all stakeholders with their own planning.  

Focus Groups 

In late 2018 ASX commenced a series of Focus Group sessions for ASX to test solution design on selected new business requirements and existing services prior to the release of functional and messaging specifications as part of the technical documentation release.