ASIC Highlights Concerns Over Further Infrastructure Issues at ASX

​According to the latest news, the payments system board of the Reserve Bank of Australia (RBA) has issued a statement highlighting concerns that there have been "further trading issues" with the Australian Securities Exchange (ASX) infrastructure, after the bourse was forced to close on last Monday due to a software issue.

On last Friday, Payments System Board held November 2020 Meeting. At its meeting, the Payments System Board discussed a number of issues, including ASX's project to replace the CHESS clearing and settlement system for cash equities. 

In an official announcement, RBA mentioned that it will be working with ASX to better understand if there are systematic underlying issues to be addressed. 

"The Board discussed ASX’s revised timeline of April 2023 for implementation of the replacement system and confirmed the Bank’s expectations of ASX in relation to the new system. It emphasized the need for the replacement system to be implemented as soon as this can safely be achieved by ASX and users of CHESS. The Board is concerned about the recent operational issues affecting CHESS and ASX's trading systems and will be working to understand if there are systematic underlying issues."