April
- Opinion
- Sharemarket
How Australia is losing the equity market war
Australia’s equity capital markets are slipping behind global competitors on market value, shares traded and foreign listings. That trend is unlikely to change while the ASX is fixing its monopoly clearing and settlement system.
- Tony Boyd
Inquiry puts blame on regulator, RBA for ASX failure
ASIC and the Reserve Bank should conduct more thorough audits to avoid a repeat of the bungled CHESS replacement project.
- James Eyers
March
‘No time for complacency’: ASIC chairman keeps heat on ASX
After hitting ASX with a fine for information transparency failings, Joe Longo says oversight is being jacked up across the board.
- James Eyers
February
ASX on back foot after costs blowout due to technology, regulation
ASX cut its interim dividend and said expense growth was unsustainable after the CHESS debacle created unprecedented regulatory demands.
- James Eyers
‘New era’ ASX starts with redundancies as CEO swings axe
Technology staff are the most affected by redundancies before ASX’s half-yearly earnings due on Friday, as it looks to reorganise after its CHESS disaster.
- Paul Smith
December 2023
Tata Indian boss says he’s ready to take ASX pressure on CHESS
Vivek Ramgopal says Tata will keep the ASX on track as it attempts to rebuild the market’s post-trade system for a second time and responds to criticisms.
- James Eyers
November 2023
- Opinion
- Chanticleer
ASX plays a low-risk game with new CHESS plan
The ASX has decided on not one but two big companies to deliver its new CHESS replacement system. It needs everything to go right.
- James Thomson
ASX turns to Tata, passing over Nasdaq, to rescue CHESS
The sharemarket operator told investors the first part of the new system would be in place by 2026. Regulator ASIC is yet to be convinced.
- Updated
- Jonathan Shapiro and James Eyers
October 2023
ASX board narrowly avoids second strike, chairman re-elected
ASX receives heavy protest vote against its remuneration report, missing a second strike by just 4 per cent. Damian Roche re-elected as chairman for last term.
- James Eyers
August 2023
- Opinion
- Chanticleer
ASX kills former CEO’s bonus share rights over CHESS disaster
The reverberations from the market operator’s failed attempt to replace its clearing and settlement system continue to play out.
- James Thomson
Rates and inflation to boost sharemarket: ASX chief
A ‘solid pipeline’ of companies is waiting for an opportunity to float, Helen Lofthouse says as ASX shares dip 2 per cent.
- Updated
- James Eyers
June 2023
ASX mulls sale of $14.9m stake in CHESS contractor after upgrade mess
ASX took the 5.6 per cent interest in Digital Assets in 2016 when it first selected the start-up to upgrade CHESS, but this shareholding is now under review
- Lucas Baird
- Updated
- Investing
ASX to keep CHESS on life support until 2032
The ASX says work will continue on a replacement trading system, but will keep the near 30-year-old legacy infrastructure up and running for another decade.
- Updated
- Lucas Baird
May 2023
ASX chief tells stockbrokers new CHESS will put ‘safety’ over speed
ASX maintains it will decide on the new technology solution for CHESS by the end of the year, and brokers will get plenty of time to develop for it.
- James Eyers
ASX looks to CHESS steward as next CIO
After joining last year to fix the CHESS mess, Tim Whiteley has been named chief information officer at ASX.
- Ayesha de Kretser
March 2023
- Opinion
- Chanticleer
ASIC move should end ASX chairman’s tenure
ASX chairman Damian Roche should not survive an ASIC investigation into the equities market operator’s suspected breaches of continuous disclosure.
- Tony Boyd
- Opinion
- Chanticleer
Chalmers steps into an ASX battle that Swan and Morrison could not win
Jim Chalmers is the third treasurer in 15 years to attempt to break the ASX monopoly on clearing and settlement. The ASX is likely to fight back hard.
- Tony Boyd
February 2023
ASX offers incentives to brokers to help fix CHESS
ASX’s interim profit took a 70pc hit after a big write-down on the bungled IT project. ASX has provided a plan to improve engagement for a new design.
- Updated
- James Eyers
December 2022
- Exclusive
- Blockchain
Digital Asset blames ASX for CHESS debacle
An executive at the start-up that was building the alternative clearing and settlement system says the delays “have not been due to our failure to deliver” and “a plan to address core issues was never created”.
- James Eyers
- Opinion
- Chanticleer
ASX needs management and board cleanout
The market operator’s chairman, Damian Roche, ought to be replaced, and CEO Helen Lofthouse needs to overhaul the ranks.
- Tony Boyd