Business Committee

Business Committee Meetings

Meetings of the Business Committee are held quarterly unless the Committee determines that more meetings are required to discuss particular matters.

The 2023 Business Committee meeting dates are:

All Business Committee meetings are held at ASX Limited, 20 Bridge Street, Sydney NSW 2000, and/or by teleconference as required.

Business Committee agendas, meeting papers and minutes

Key points from latest meeting (March 2023)

At the March 2023 meeting, the Business Committee was updated on:

• Governance matters including the Charters of the Business Committee and CHESS Replacement Technical Committee, and the process for recommendations from the Business Committee to ASX Clear and ASX Settlement Boards
• The operating performance of CHESS for the March 2023 quarter (data to end February 2023), and work being done to maintain the stability of existing CHESS;
• ASX’s holistic management of all CHESS related items, an update regarding priorities for existing CHESS and a discussion on T+1 settlement
• The CHESS replacement project, including Partnership Program and the CHESS Replacement Technical Committee. 

Key points from discussion at the meeting included:

• Stakeholder representation on the CHESS Replacement Technical Committee, with requests for multiple attendees to join the Committee from members 
• EY’s assurance role across various elements of ASX’s CHESS Action Program 
• Understanding key risks associated with supporting and maintaining current CHESS
• Interest and discussion on the CHESS Replacement Partnership Program. 

Members will be asked to complete a short survey on T+1 settlement prior to the next meeting. 

Committees and other engagement forums

Technical Committee

In some circumstances, it may be appropriate for the Business Committee to appoint and convene technical committees to assist in the performance of its role. For example a Technical Committee comprising ASX and industry representatives was convened from 2014 to 2021 to focus on CHESS messaging and the adoption of ISO 20022 messaging. The adoption of ISO 20022 is a major work‑stream for the CHESS Replacement project and members of the Technical Committee were involved in the detailed work associated with this work‑stream. The ISO 20022 Technical Committee meeting papers can be found here. 

The CHESS Replacement Technical Committee was established in February 2022 as a sub-committee of the Business Committee and provides a forum for ASX and industry to focus on the CHESS replacement project. 

A calendar of future meetings can be located on the CHESS Replacement website.

CHESS Replacement working groups

The CHESS replacement project is a key development for cash equities clearing and settlement in Australia. ASX has given careful consideration to its engagement program with key stakeholders through the delivery of this project, including a range of working group forums and formal consultation. More information on these engagement activities can be found here.