Update: Forward Release Plan
- Updated Batch Settlement - Part 3 of 3 (Unit Fails) from November 2019 → December 2019.
- Updated links to Technical Documentation from November 2019 release.
- Removed 'Scope for Consideration Post Day 1' table. This table has been moved to the CHESS Replacement Scope page.
Change to Day 1 Scope:
Following Focus Group and Technical Committee feedback for , line-by-line real time settlement and Regular Payment Plans (RPP) have now been de-scoped from Day 1.
Feedback received from these sessions included the following considerations:
- For line-by-line real time settlement: mFund settlement practices were established and moving settlement out of batch processing would result in significant impact across all mFund stakeholders.
- For Regular Payment Plans (RPP): there is a current requirement for investors to complete a Direct Debit authority form, pursuant to participation in a Regular Payment Plan. This effectively prohibits automation.
Additionally, the scope pursuant to Account Information – has changed such that additional information linked to a CHESS holding which can be used in connection with corporate actions, compliance with regulatory obligations and new investor services (as requested by stakeholders) will be captured but will not be stored with the exception of DRP/BSP elections where the latest received election will be stored in the CHESS replacement system.
Further, holder email addresses and mobile phone numbers are currently collected in CHESS today and will continue to be collected in the replacement system. An email address and mobile phone number will only be mandatory if a holder indicates that their communication preference is “electronic.” One of the new business requirements for the CHESS replacement project is to introduce the electronic provision of CHESS Holding Statements. The solution for this business requirement is continuing to be worked on, with the expectation being that email addresses and mobile phone numbers populated in a holder record will be used by ASX for this purpose.