Section 06 - Post MDR Day 1 Testing

Context of this Document

The ASX Cutover and Migration Strategy must be read in the context of the ASX CHESS Replacement Technical Documentation (as applicable).

In the interests of readability and comprehension, where a procedure applies only in the context of securities in a listed company, the specific term security has been used instead of the more generic term financial product.

Change History

6.1 Overview of Post MDR Day 1 Testing

CHESS users will have the opportunity to test a number of business workflows in the ‘To be’ Production Environment following each MDR weekend. The window of testing following a dress rehearsal event will be a test phase referred to as ‘post MDR day 1’ testing. It is expected that all activity can be conducted on the Monday system day. The list of possible scenarios can be found in section 6.2, which includes activity following the Monday settlement.

Post MDR day 1 testing is aimed to provide CHESS users with the ability to test supported scenarios with production data. This phase is not a parallel test and will not be expected to reconcile to production.

ASX is planning to run settlement as part of Post MDR day 1 activities. This is to allow clearing and settlement participants to consume the messages created by settlement batch and ensure they are successfully processed by back office systems. The movement of units and cash will vary from that of production as the pre-settlement activities (such as bilateral matching) will be different. It is therefore important for clearing and settlement participants to understand results will be different (and potentially significantly) to production but that the objective of the test is to ensure back office systems can support the output of settlement messages even if there is a high level of settlement fails.

Similar to other phases of Industry Testing, a Post MDR Day 1 Guide to Testing Services will be published externally alongside the MDR overview. This will provide information on how this phase will be coordinated depending on the number of CHESS users involved. These documents be delivered in accordance to Section 6.4 of the Industry Test Strategy.

6.2 Post MDR Day 1 test scenario examples

The table below outlines a list of scenarios that CHESS users may run in ‘To be’ Production following an MDR event.

Some scenarios below (noted with * ) will require multi-party involvement and will be dependent on other CHESS user participation.

CHESS User Group

Functional Area

Example Post MDR Day 1 Test Scenario

CHESS User Group

Functional Area

Example Post MDR Day 1 Test Scenario

  • Clearing and Settlement Participant; and

  • Settlement Participant

Accounts

  • Request on demand report e.g. account notification reporting (ACNT)

  • Ability to modify or cancel accounts that were migrated

  • Ability to create new accounts

  • Transfer a migrated account to another participant (EOD process)*

  • Investor data – sending of bank account* and TFN information

  • Clearing and Settlement Participant; and

  • Settlement Participant

Holdings

  • Request on demand report e.g. Holding Balance (HBAL)

  • Ability to transfer securities between two accounts controlled by the Participant

  • Ability to transfer securities between Participants within and outside of settlement

  • Clearing and Settlement Participant; and

  • Settlement Participant

Holdings

  • Ability to submit a bid offeror acceptance for an active corporate action event of type BIDS, TEND or OTHR

  • Ability to initiate a bid offeror cancellation for an active corporate action event of type BIDS, TEND or OTHR*

  • SRN Enquiry*

  • Transfers and conversions between sub-registers (CHESS to issuer)

  • Transfers and conversions between sub-registers (issuer to CHESS)*

  • Clearing and Settlement Participant; and

  • Settlement Participant

Scheduled Bilateral Settlement Instructions

  • Request on demand report e.g. Obligation status report

  • Ability to amend key fields, or request a cancel

  • Clearing Participant

Scheduled Market Trades

  • Request on demand report e.g. Obligation status report

  • Clearing and Settlement Participant; and

  • Settlement Participant

Settlement

  • CHESS users to consume the messages created by settlement batch and ensure they are successfully processed by their back office systems.

  • Send new unilateral or bilateral* instruction for matching

  • Clearing and Settlement Participant; and

  • Settlement Participant

mFund

  • Request new application or redemption and complete workflow, where possible*

  • PISPs

mFund

  • Process new application or redemption to completion, where possible*

  • Payment Providers

Settlement

  • Accept payment requests*

  • Share Registry (and Bid Offeror)

Accounts

  • SRN enquiry*

  • Holding adjustments

  • Ability to receive and acknowledge Investor data – bank account*

  • Ability to receive Investor data – TFN information*

  • Consume EOD Reports

  • Ability to accept a bid offeror acceptance for an active corporate action event of type BIDS, TEND or OTHR*

  • Ability to accept/reject a bid offeror cancellation for an active corporate action event of type BIDS, TEND or OTHR*

  • Ability to receive transfers and conversions between sub-registers (CHESS to issuer)*

  • Ability to process transfers and conversions between sub-registers (issuer to CHESS)*

  • AMO

EOD price

  • Report EOD price

  • Download security details report generated as part of EOD