Overview
- ASIC announced on June 15 that it has opened a formal inquiry into the bourse operator’s governance, capability and risk management.
- The probe was triggered by serious operational failures, including a major breakdown of the CHESS clearing and settlement platform in December 2024.
- ASX abandoned its six-year blockchain-based CHESS replacement project in November 2022 after encountering complexity and scalability challenges.
- Last year, ASIC took ASX to court for allegedly making misleading statements related to its blockchain CHESS overhaul.
- The inquiry’s findings and recommendations will be published, while ASX says it is pursuing a transformation strategy to rebuild market trust.