Ann: CHESS Replacement - ASX reassessing, financial derecognition, page-33

This reminds me of the four major banks and Telstra amongst others...all of them have been through at least one grist of the money mill of big consulting IT transformations that cost many many millions, many jobs and yield....well...not much...unless you are one of the big gig consulting firms that snags the deal early.

This one wont be pretty for the ASX or its shareholders either as they are heading down the same tearful path of all the others. One can only hope the data integrity that is so deeply imbedded in the existing CHESS system is not compromised otherwise bedlam well beyond the ASX will reign.

Perhaps ASIC would like to take back the reigns of the regulatory function including compliance oversight and CHESS administration...now there is a novel thought I haven't seen before.