• prod
  • s7connect
  • crx3
  • samplecontent
  • publish
  • crx3tar

CHESS Replacement

A secure & contemporary replacement system using global standards.
Offering a better way to deliver market efficiencies and innovation opportunities.

Building core and contemporary infrastructure to advance Australia's reputation as a leading economy

ASX is replacing CHESS, its well-functioning but ageing clearing and settlement system, with enhanced technology that will create new opportunities for the Australian market. When it goes live, the new system will offer richer functionality, adopt global standards and use contemporary technology.

It will also provide the option of accessing distributed ledger technology (DLT), which will deliver information more efficiently and stimulate competition by enabling anyone to build new services.

ASX has a history of innovating and upgrading systemically important systems. It is part of what we do. We believe this new system - sitting on new infrastructure - will create a foundation for the next decade and beyond.

Latest updates

On 12 July 2021, the CHESS Replacement newsletter was published for July 2021 and can be accessed here.

On 9 July 2021, ASX published Q&A generated in the Implementation & Transition webinar held on 30 June 2021. The Q&A, webinar recording & presentation materials are available here.

An updated clearing and settlement system

ASX’s CHESS Replacement project will replace an existing, aged COBOL system, with a system built on Java and DAML – the Digital Asset Modelling Language – which has also been chosen by the International Swaps and Derivatives Association (ISDA) to standardise the OTC derivatives world. 

Quick links