System Availability and Event Times

Please note that all times quoted are in Sydney time (AEST/AEDT).

System Availability and Event Times

The system is available on business days for all connectivity and messaging services, with the exception of required maintenance.

Further details pertaining to environment maintenance will be made available in a future release of this document.

For ITE1 and ITE2, client testing is recommended between 9am and 5pm in-line with ASX support hours, however clients may submit transactions outside of these times in line with system operating hours.

Time1

State

Description

Time1

State

Description

4:55am

CHESS Open

The system will commence processing CHESS user transactions received during CHESS End of Day and immediately process CHESS user transactions received from this time.

For ITE1 and ITE2 software release v1.2, the CHESS Open occurs immediately after the completion of CHESS End of Day processing, which typically occurs by 10:45pm to 11:30pm.

5:00am

Start FIX Session

An AMO may establish a FIX session with the system.

7:00am

Trade Capture & End of Day Prices

The system is ready to commence processing trades and any applicable trade cancellations from AMOs.

The system is ready to commence processing End of Day pricing details from AMOs.

9:15am

RTGS Open

The system is ready to commence processing real-time payments for matched Bilateral Demand Settlement Instructions (BDSIs).

11:30am

Scheduled Batch Settlement

The system will commence the scheduled batch settlement process. CHESS user transactions received during scheduled batch settlement will be processed once the scheduled batch settlement process is complete (with the exception of CHESS user transactions required to complete the batch settlement cycle, and trades and any applicable trade cancellations from AMOs).

Scheduled Batch Settlement in the test environments is generally completed by 1:00pm.

Post - Scheduled Batch Settlement Completion

The system will housekeep the following (subject to housekeeping criteria):

  • Unmatched Bilateral Settlement Instructions; and

  • Unmatched Bilateral Settlement Instructions Cancellation Requests.

6:45pm

RTGS Close

The system will stop processing real-time payments for matched Bilateral Demand Settlement Instructions (BDSIs).

Matched BDSIs where payment is not authorised will be cancelled post RTGS close.

For ITE1 and ITE2 software release v1.2 and v1.3, the RTGS close occurs at 6:45pm.

7:00pm

CHESS End of Day Begins

The system will process all CHESS user transactions received up until this time. CHESS user transactions received during the CHESS End of Day will be processed on the next business date.

AMOs may continue to provide subsequent updates to End of Day pricing details up until 7:05pm.

The Business Date Roll occurs during the CHESS End of Day Processing.

For ITE1 and ITE2 software release v1.2 and v1.3, the CHESS End of Day begins at 7:10pm.

During the CHESS End of Day, the system will run the following processes:

  • Housekeeping of SRN Enquiries (subject to housekeeping criteria)

  • Housekeeping of Suspended Settlement Instructions (subject to housekeeping criteria)

  • Nominated Settlement Entrepot Updates

  • mFund Reminder Notices

  • Bulk Conversions to the Issuer Sponsored Sub-register

  • Automated Security (Sub-register) State Changes

  • Housekeeping of Issuer to Participant Transfer and Conversion Requests (subject to housekeeping criteria)

  • Housekeeping of Registration Identifiers (RGID) Accounts (subject to housekeeping criteria)

  • Scheduled Account Unlocking

  • Housekeeping of Change of Controlling Participant Requests (subject to housekeeping criteria)

  • Effecting Change of Controlling Participant Requests

  • Account Cancellation

  • Issuer (Registry) End of Day Reports

  • Demand Reports (Generated at End of Day)

  • Housekeeping of Unmatched Bilateral Demand Transfers and Bilateral Demand Settlement Instructions (subject to housekeeping criteria)

  • Housekeeping of Bid Elections and DRP/BSP Elections (subject to housekeeping criteria)

  • Cum Entitlement Balance Generation

  • Processing of Diary Adjustments (including Accrual Adjustments, Value Adjustments and Reconstruction Adjustments), Class Mergers and Code Changes

  • Netted Obligation Report Generation for Clearing and Settlement Participants (this will occur following the processing of Diary Adjustments, Class Mergers and Code Changes)

  • Scheduled Payment Facility Creation, Updates, and Cancellations, and Payment Provider changes

  • Generation of Projected Funds Balance Report for Payment Providers

  • Scheduled Holding Administration Unlocking

  • Housekeeping of Bank Account Notifications (subject to housekeeping criteria)

  • Daily Interest Earned and Daily Collateral Statement Reports

  • AMO Security Details Report

7:05pm

Close FIX Session

All active AMO FIX sessions with the system will cease once all trades, trade cancellations, and End of Day pricing details received prior to CHESS End of Day are processed and responses are sent to the AMO.

An AMO will not be able to establish a FIX session with the system after this time.

1 ASX Settlement may be required (from time to time) to alter these times where necessary in order to protect the integrity of CHESS or maintain an orderly operation of CHESS.

Transaction Processing during Batch Settlement and End of Day

CHESS user transactions received during scheduled batch settlement will be processed when batch settlement is completed, and CHESS user transactions received during the CHESS End of Day, will be processed when CHESS opens for the next business date. The functions that will not be available for immediate processing during batch settlement or during the End of Day include:

  • Account Creation and Modification (including requests to lock or unlock Accounts and requests to cancel Accounts)

  • Change of Controlling Participant Requests and Enquiry

  • Submission of TFN/ABN, or mFund Investor Data and Foreign Tax Status details

  • Bank Account update/delete process

  • Bid Election, Withdrawal and Transfer process

  • Holding Adjustments

  • DRP/BSP Election process and DRP/BSP Election Cancellation process

  • Distribution Advice Notification

  • Unilateral and Bilateral Demand Transfer requests and Cancellations

  • Unilateral and Bilateral Scheduled Settlement Instruction requests, Updates, Cancellations, and Cancellation Withdrawals

  • Market Trade and Novated Rescheduled Instruction Cancellations, and Cancellation Withdrawals

  • Isolate Counterparty requests

  • Settlement Lock/Unlock requests

  • Transfer and Conversion requests between sub-registers

  • SRN Enquiry process

  • Issuer’s agent transfer process

  • Collateral Lodgment and Removal process

  • Margin Settlement Amount process

  • mFund Application and Redemption workflows and Unsolicited Confirmations

  • ASX Assisted functionality (including Holding Administration Locking and Unlocking, and Payment Facility Creation, Updates, Cancellations and Payment Provider changes)

  • Demand Reporting Requests (from v1.3)

The CSP will perform some validations on the transaction immediately upon receipt of the message and some validations on the transaction upon processing when batch settlement is completed or when CHESS opens for the next business date.

Non Business Days (Public Holidays) and Weekends

The following logic will apply during non business days:

  • For Code Release v1.2 - The CSP will run some End of Day processing at the end of the business date prior to a weekend/public holiday and will finish the rest of the End of Day processing the night prior to, or early in the morning of, the first business date after the weekend/public holiday and then come online at 4:55am.

  • For Code Release v1.3 onward - The CSP will run End of Day processing at the end of the business date, including prior to a weekend/public holiday, and then will come online at 4:55am on the business date after the weekend/public holiday.

For example, in Code Release v1.3:

  • Where Monday is a public holiday – End of Day processing will be completed Friday night and the system will come back online Tuesday.

  • Where Monday is a business date, Tuesday is a holiday, and Wednesday is a business date - End of Day processing will be completed Monday night and the system will come back online Wednesday.