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ASX and TCS Hit Major Milestone: CHESS Release 1 Goes Live for Cash Clearing
Phased Rollout of New Market Infrastructure Powered by TCS BaNCS and Quartz Successful; Release 2 Targeted for 2029
In a significant upgrade to Australia’s financial plumbing, the Australian Securities Exchange (ASX) and Tata Consultancy Services (TCS) successfully went live with Release 1 of the new CHESS (Clearing House Electronic Subregister System) on Monday, April 20, 2026. This milestone marks the first successful stage of a high-stakes modernization project that has been nearly a decade in the making.
By the end of its first week (April 24), the new system maintained 100% uptime, successfully processing over 18.5 million trades and completing the first full T+2 settlement cycle under the new architecture.
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