Section 01 - Introduction to this guide

Change History


Section 01. Introduction to this Guide

1.1 Source

The ASX Settlement Procedure Guidelines (APG) are issued and maintained by ASX Settlement Pty Limited (ASXS) and ASX Clear Pty Ltd (ASXCL), wholly owned subsidiaries of ASX Limited (ASX).

1.2 Purpose

The purpose of the APG is to provide operational guidelines for clearing, settlement, and sponsorship participants, and issuer (registries).  Participants and issuer (registries) can use these guidelines as a base for establishing internal procedures that suit their business and computer systems.

The APG does not define the obligations of a participant or an issuer (registry); these obligations are defined in the operating rules of the relevant Approved Market Operator, the ASX Clear Operating Rules, the ASX Settlement Operating Rules and accompanying procedures.

1.3 Scope

Broadly speaking, the APG covers the use of CHESS to perform:

  • clearing and settlement functions for market trades in approved financial products; 

  • registration and maintenance of holder details; and 

  • processing of corporate actions; and

  • settlement of mFund applications and redemptions.

1.4 Additional Information

The ASX produces a range of documents that may also be relevant, including:

  • ASX Technical Documentation;

  • ASX Operating Rules;

  • ASX Clear Operating Rules;

  • ASX Settlement Operating Rules;

  • ASX Schedule of Fees; and

  • ASX Market Notices.

These documents can be found as part of the ASX Technical Documentation ( and in the participant library section of the ASXOnline website (

1.5 Context

The APG must be read in the context of the ASX Settlement Operating Rules and ASX Clear Operating Rules, including the proposed rule amendments (Rules Consultation) required to facilitate the implementation of the new system that will replace CHESS.  

Any terms explicitly defined in the ASX Settlement Operating Rules or ASX Clear Operating Rules and used in the APG should be interpreted according to the definition given in the applicable rulebook.  This includes terms such as participant, issuer (registry), account, holder, subregister, and financial product.  Because of the large number of these terms, they have not been capitalised for emphasis in the APG.

In the interests of readability and comprehension, where a procedure applies only in the context of securities in a listed entity, the specific term security has been used instead of the more generic term financial product. In relation to Quoted Securities this term is used in the context of any security quoted on the ASX or any other Approved Market Operator.

1.6 Availability

The APG is published in Confluence as part of the ASX Technical Documentation ( It is also available in Adobe “Acrobat” Portable Document Format (PDF) and is available online on the ASXOnline website (

1.7 Maintenance and Updates

From time to time, changes must be made to the CHESS operating procedures and/or the technical architecture of the CHESS system.  Participants and issuer (registries) are advised of procedural changes in ASX market notices and by the issue of updates to the APG.

The APG is a controlled document.  Revisions are marked in the following manner:

  • deleted text is highlighted in red and struck out;

  • new text is highlighted in green;

  • changes to formatting is highlighted in blue; and

  • other notations may be used where required.

These changes are visible by:

  • Navigating to and expanding the APG Release Explanatory Note and selecting an updated section under the ‘Printing’ heading, identified by ‘Updated (v.)’.

  • Expanding each section’s Document Information, selecting a previous version and the ‘Compare with Current’ option. It is possible to compare earlier versions by selecting ‘View Page History'.

  • Selecting the ‘…' icon at the top of a section and navigating to the ‘Page History’ option. In the section’s Page History, select the checkbox beside two versions and select the ‘Compare selected versions’ option.

Updates are made as either a partial or full re-issue of the document according to the scope of changes.

Updates requiring system changes are announced a minimum of 3 months in advance.  Systems developers should use this document in conjunction with the ISO 20022 Message Catalogue and technical documentation process flows, to provide compatible systems to operate in the CHESS environment. Please refer to ASX market notices for system update details.

1.8 Feedback

Every effort has been made to see that the document is complete and accurate; however we welcome comments on any omissions or inaccuracies.  

Feedback should be directed to:

1.9 Further Assistance

ASX Operations provide a help desk for operational support of ASXS and ASXCL participants and issuer (registries).  The ASX Operations help-desk also acts as a first point of contact for system development, business analysis and regulatory issues involving CHESS.  Once raised with the help desk, issues are passed to the appropriate area within ASX for resolution.

A toll-free support phone number and associated business operating hours will be made available in a subsequent release.

The help desk Email is: