ASX expects more delays to blockchain-based CHESS replacement go-live date
Summary
The Australian Securities Exchange (ASX) has been building the worlds first industrial-scale blockchain use case -- a new post-trade solution to replace its legacy Clearing House Electronic Subregister System (CHESS) platform, which has been running for more than 25 years. Also on Monday, the ASX said onboarding customers to its dedicated ITE2 environment will now open on April 27, instead of April 18 in a "phased approached", starting with a dedicated onboarding period that includes certificate management set up. "This approach incorporates learnings from ITE1 onboarding and testing -- which required focused attention and time -- and allows for the known complexity involved in safely updating, connecting and testing technology across multiple parties and jurisdictions," Hogben said. The ASX added as a result of delays to onboarding customers, it expects migration dress rehearsals will not commence in October, as initially scheduled. We will be actively working with all stakeholders to assess the flow-on impacts of these schedule changes to project milestones, industry testing, operational readiness, migration dress rehearsals and implementation [go-live]," Hogben said.