RBA and ASIC Raise Concerns Over ASX's Trade Settlement Practices, ASX Clear Compliance Under Review

Australia's central bank, the Reserve Bank of Australia (RBA), and the Australian Securities and Investments Commission (ASIC) have raised serious concerns regarding the Australian Securities Exchange (ASX). The RBA is reevaluating the conformity of ASX Clear and has downgraded its assessment of ASX's settlement compliance. In response to these issues, ASIC announced that ASX will hire an expert to conduct a review of its Clearing House Electronic Subregister System (CHESS). These developments come amid ongoing scrutiny of trade settlement practices at ASX, which have prompted regulatory actions to ensure compliance and efficiency in the exchange's operations.