Regulator needed as ASX techies tinker with critical infrastructure
The exchange operator has a glut of big tech upgrades to deliver, on top of its CHESS debacle ‘do-over’. If it stuffs them up, then everyone in the market suffers.
Concerns over the status and governance of technology upgrades at the ASX are sadly not surprising in the context of the bungled CHESS replacement program, but they are worrying for others outside the four walls of its Sydney headquarters.
ASX chief information officer Tim Whiteley is a serious operator, and has laid out a road map to upgrade core systems, which is not unreasonable. But there are big questions about whether the organisation is equipped to deliver them.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
