Particle.news

Download on the App Store

ASX Partners with TCS for Trading System Overhaul

The new platform, costing up to A$125 million, will be implemented in two main releases over the next five to seven years.

  • Australian bourse operator ASX Ltd has partnered with TATA Consultancy Services (TCS) to design and replace its trading, clearing and settlement system.
  • The new platform will be implemented in two main releases, with the clearing service to be delivered first, followed by the settlement and sub-register services.
  • The estimated cost for the first release of the Clearing House Electronic Subregister System (CHESS) project is between A$105 million ($68.33 million) and A$125 million, to be incurred over multiple years.
  • The first release is expected to be implemented by 2026, and the second release by 2028 or 2029.
  • ASX also entered a deal with Accenture to provide additional capability and capacity in the project delivery.
Hero image