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About CHESS Replacement

A foundation for innovation that can reduce friction, latency, risk and cost.

About CHESS Replacement

Information relating to the announcement that CHESS would be replaced with distributed ledger technology developed by Digital Asset is available on the ASX media release web page.

Guiding principles

The replacement of CHESS provides issuers and end investors with greater control over, and enhanced confidence in, market activities through timely, secure and simplified access to the register of holders (for issuers), financial assets (end investors) and associated information. It enables the industry to meet and respond to changing local and global markets, and promote further innovation through new levels of functionality, open standards and flexible technology.

Operate for the benefit of issuers and end investors

Provide issuers and end investors with greater control over, and enhanced confidence in, their market activities through timely, secure and simplified access to the register of holders (for issuers), financial assets (end investors) and associated information.

Take future needs into account

Meet and respond to changing local and global markets, and promote further innovation through new levels of functionality, open standards and flexible technology.

Accessibility

Be readily available to those who are authorised to use it in a non-discriminatory manner.

Ease of integration and global interoperability

Ensure capacity to integrate with upstream and downstream business systems, and embrace global standards and openness to competition through interoperability in a cost-efficient way.

Availability, reliability and performance

Provide users and regulators with confidence that the solution will be available and transactions performed as and when expected.

Privacy and security

Provide users with confidence that the system is traceable and secure, and that it won't expose them to new risks as a result of information being fraudulently obtained or corrupted.

Operational efficiencies

Streamline functions and workflows, remove embedded paper-based processes and mitigate manual errors, and be effective and cost-efficient to operate, support and enhance.

Compliant

Comply with relevant laws, regulations and licences relating to the operating entities.

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