Today, ASIC and the Reserve Bank of Australia (RBA) (the Regulators) acknowledged ASX’s announcement of a solution design to replace CHESS. The product-based solution and vendor announced by ASX is a foundational step in getting the CHESS replacement program back on track. This follows advice provided by the ASX Cash Equities Clearing and Settlement Advisory Group (Advisory Group), a small group of recognised industry leaders established to advise ASX Clear and ASX Settlement on strategic clearing and settlement issues led by independent chair Alan Cameron AO. ASIC Chair Joe Longo said, `This is an important decision ... (full story)