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ASX plays a low-risk game with new CHESS plan

The ASX has decided on not one but two big companies to deliver its new CHESS replacement system. It needs everything to go right. 

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How the pendulum has swung at ASX Limited.

Having blown up hundreds of millions of dollars on the pipedream of replacing the CHESS clearing and settlement system with a blockchain-based tech solution, the market operator has apparently found the very thing it previously said was impossible: an existing, off-the-shelf solution from a big tech provider.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/asx-plays-a-low-risk-game-with-new-chess-plan-20231120-p5elf8