ASX Revamps 'Chess' Settlement Platform
EXCHANGE TECHNOLOGIES
SYDNEY—Securities and derivatives exchange the Australian Stock Exchange (ASX) has implemented a revamped version of its Clearing House Electronic Subregister System (Chess) for settlement that offers real-time, irrevocable daily settlement of derivatives obligations.
The obligations are handled via the Reserve Bank of Australia's Reserve Bank Information and Transfer System (RITS) payment system. In early May, the Sydney-based ASX went live with version 6.0 of the Chess software, which also
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