Tuesday August 18 2015

News Source: Global Exchanges

Focus: Derivative Market Segment

Type: General




ASX has published CHESS External User Testing Guidelines. As no new or changes to CHESS Messages are required to be developed by CHESS Software Vendors, CHESS Accreditation is not a requirement for the implementation of T+2 Settlement. To ensure customer readiness ASX will require a Technical Attestation from CHESS Software Vendors and an Operational Attestation from CHESS Participants to validate the readiness of each User.

As part of readiness tracking CHESS Software Vendors and CHESS Clearing and Settlement Participants will be expected to test both a trade file and corporate action file to support the Attestations. These tests will be recorded by ASX as part of the go live sign off.

The RTE (Release Test Environment) has been designed to enable users to create and test scenarios that occur in Production. From August 2015 trade files and corporate action reduced ex periods are available to test.

The following changes will be available to test in RTE from November 2015 (date TBA):

  • Trade Acceptance Service (TAS) modifications to cater for T+2
  • Changes to prevent cum and ex trades being netted together which are due to settle on the same settlement day for a specific security.

The Batch cut off times will not be included as part of the test as the RTE already facilitates extended cut off.

Test kits are provided with more than one PID to enable users to act as their own counterparty, and therefore complete test scenarios internally.
All testing should be undertaken in conjunction with referencing the External Interface Specification (EIS) manual and the ASX Settlement Procedure Guidelines (APG).

Click on the link above for further details.