ASX rejects new concern on CHESS oversight amid delivery disaster

James Eyers and Tony Boyd

Updated Mar 28, 2022 – 5.42pm, first published at 9.33am

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The ASX has rejected suggestions that a technology expert appointed to its board, Dave Curran, is too conflicted to provide independent oversight of the troubled CHESS replacement project, following confirmation the upgrade will be delayed for the fourth time.

This came as confidence in the ASX’s ability to deliver the upgrade sank to a new low amid uncertainty about when it will be delivered, rising integration costs for brokers, and calls for the ASX to properly explain the reasons for the delay.

James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay

Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist.