ASX Confirms Successful Launch of Chess Release 1 Clearing Platform
ASX (ASX:ASX) successfully launched Release 1 of its Chess modernization project, enabling clearing services on a new platform designed for greater resilience, scalability, and higher trading volumes, according to a Monday filing with the Australian bourse.All approved market operators are successfully connected ahead of the market open, and the system is being closely monitored throughout trading, settlement, and end-of-day processing, with contingency plans ready in case any issues arise, the filing said.The estimated cost for Chess Release 1 remains within the previously stated budget of around AU$125 million, the filing said. Release 2, which will introduce settlement and sub-register services, is currently being prepared, with industry testing in progress and is scheduled for delivery in 2029.