ASX Limited ( (AU:ASX) ) just unveiled an announcement.
ASX Limited has received a joint letter from the Reserve Bank of Australia and the Australian Securities and Investments Commission regarding regulatory actions following a CHESS settlement incident in December 2024. The incident highlighted issues with the CHESS system’s memory allocation, leading to a failed batch settlement. In response, ASX is implementing an action plan to enhance system resilience and address regulatory concerns, including appointing an expert to review the CHESS system. The company is also advancing its technology modernization strategy, emphasizing the replacement of CHESS with a modern, modular architecture to meet market needs. ASX’s leadership is committed to restoring confidence in its operations and improving risk management and business resilience.
More about ASX Limited
ASX Limited operates within the financial services industry, primarily focusing on providing market infrastructure for the Australian financial system. Its key services include the operation of the Australian Securities Exchange, which facilitates trading, clearing, and settlement of equities and other financial products. ASX is currently engaged in a significant technology modernization strategy, including the maintenance and replacement of its CHESS system, which is crucial for its operations.
YTD Price Performance: 5.92%
Average Trading Volume: 784
Technical Sentiment Signal: Sell
Current Market Cap: $8.2B
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