May 11 (Reuters) – Australian bourse operator ASX Ltd (ASX.AX) mentioned on Wednesday the April 2023 launch of its replacement software for Clearing House Electronic Subregister System (CHESS) will probably be delayed.
The announcement comes amid delays in supply of the applying software that may exchange CHESS, leaving ASX and CHESS customers much less time to finish their testing and different readiness actions earlier than April 2023.
The CHESS software allows ASX’s registry to handle settlement of transactions, and the alternate has strived since 2017 to exchange with blockchain expertise in a bid to chop prices for prospects.
The bourse has additionally been battling a number of software glitches up to now, with the newest outage being in November when a problem with its new equities buying and selling platform halted buying and selling for 20 minutes on the day it went dwell, forcing the nation’s market regulator to impose further licence circumstances to cut back future dangers and upgrades.
“A new go-live date will be determined after further planning with ASX’s technology partner and input from stakeholders,” it mentioned in an announcement on Wednesday, assuring that the present software system remained sturdy.
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Reporting by Savyata Mishra in Bengaluru; modifying by Uttaresh.V
Our Standards: The Thomson Reuters Trust Principles.
Australia’s ASX puts off go-live deadline for CHESS software replacement & More Latest News Update
Australia’s ASX puts off go-live deadline for CHESS software replacement & More Live News
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