Business Update28 Apr 2026, 11:31 am
TCS and ASX Go-Live with CHESS Release 1
AI Summary
Tata Consultancy Services (TCS) and the Australian Securities Exchange (ASX) have successfully launched CHESS Release 1 for cash clearing and settlement. TCS implemented its TCS BaNCS for Market Infrastructure and Quartz Gateway solutions, providing ASX with a modern, scalable, and resilient cloud solution. The solution supports real-time trade novation and netting, compliant with industry standards, and can process over 20 million trades per day. Release 2 is targeted to go-live 2029.
Key Highlights
- TCS and ASX launch CHESS Release 1 for cash clearing and settlement.
- TCS BaNCS and Quartz solutions provide a high-performance CCP clearing solution.
- The solution supports real-time trade novation and is compliant with industry standards.
- CHESS Release 1 marks a significant milestone in modernizing Australia’s market infrastructure.
- TCS and ASX have commenced work for Release-2 of the CHESS Replacement Program.