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Markets3h 23m ago
Sharemarket operator ASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was “progressing well” was misleading.
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Australia
Who
ASX Ltd, ASIC, Federal Court
What
Sharemarket operator ASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was “progressing well” was misleading.
When
Sun, 14 Jun 2026 21:40:20 GMT · 3h 23m ago
Where
Australia ·
Why
The CHESS replacement project was internally classified as “red” by December 21, 2021, due to significant unresolved risks, making the "progressing well" statement misleading.
The Frontline Impact
How this affects you
ASX's misleading statement about the CHESS replacement project risked undermining confidence in Australia's financial markets and has led to a proposed penalty of $20.5 million, with an additional $3 million for ASIC's costs, pending Federal Court approval.
Story chain
3 events in this thread- Markets3h 23m agoASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was "progressing well" was misleading.Open article
- Currently Reading3h 23m agoSharemarket operator ASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was “progressing well” was misleading.
- Markets3h 23m agoSharemarket operator ASX Ltd has admitted that its February 10, 2022 market announcement stating the CHESS replacement project was "progressing well" was misleading, exposing market participants to financial harm.Open article