ASX Faces RBA Criticism Amid CHESS Cutover Release

The Reserve Bank of Australia (RBA) has delivered a sharp rebuke of ASX's clearing settlement operations, raising red flags over governance and operational resilience. The review comes as the exchange operator publishes a new cutover model for its long-delayed CHESS replacement system, highlighting the risks and timing debates around a transition to T+1 settlement.

RBA Turns Up The Heat

In its latest Financial Stability Review, the RBA assigned a "red-level" rating to ASX's clearing and settlement units, warning of material shortcomings in risk management, governance and culture. The central. . .