No wonder ASX is dirty on tech (no relation):
https://www.abc.net.au/news/2025-08...boe-as-tpg-mishap-adds-10-year-woes/105623428
...
In 2015, the ASX began scouting for a replacement to the ageing technology it used to settle trades on the exchange.
Two years later, it created global headlines. In a market abuzz with talk of cryptocurrency and its open source ledger system, the ASX announced it would build the world's first industrial scale blockchain for financial services applications.
The timeline was always ambitious. It was supposed to be online by 2020.
But the project became ever-more complex as fights developed between various information providers about how they would interact with the new system.
Shares do not simply change hands between buyers and sellers — there are share registries, custodians and a host of other players, many of whom became concerned the new system would steal their business.
By the time the fifth delay to the rollout time was announced, it was obvious the project was on the rocks. At the end of 2022, it was canned, forcing the ASX to announce a $250 million write-off.
Brokers and investment houses had spent vast amounts too, replacing their systems to integrate with the blockchain dream that ultimately turned into a blocked drain.
Dominic Stevens, the ASX chief executive who commissioned the project, had left at the start of the year, leaving then chair Damian Roche to clean up the mess and to appoint Accenture to independently review what had gone wrong.
"On behalf of ASX, I apologise for the disruption experienced in relation to the CHESS replacement project over a number of years," he said at the time.
The original story was about lettingthe a Chicago mob set up a rival stock exchange to break ASX monopoly after a monumental cock up ...
" ASX faces losing virtual monopoly as TPG bungle adds to a decade of woes "
On Wednesday, the ASX confused a listed company with a similarly-named foreign owned private equity group that was engaged in a huge takeover.
The mistake resulted in TPG Telecom shares plummeting 5 per cent, wiping $400 million from its market value, even though it had nothing to do with the $645 million takeover of automotive software group Infomedia.
If the original mix-up was bad, the inability of the ASX to rectify the situation turned it into a debacle, as traders pounded TPG Telecom's stock for hours.
And it's unlikely to be the last the operator hears from TPG, with the telco understood to be considering its legal options.
So maybe we are moving to the Chicago exchange ... ?
https://www.abc.net.au/news/2025-08...boe-as-tpg-mishap-adds-10-year-woes/105623428
...
In 2015, the ASX began scouting for a replacement to the ageing technology it used to settle trades on the exchange.
Two years later, it created global headlines. In a market abuzz with talk of cryptocurrency and its open source ledger system, the ASX announced it would build the world's first industrial scale blockchain for financial services applications.
The timeline was always ambitious. It was supposed to be online by 2020.
But the project became ever-more complex as fights developed between various information providers about how they would interact with the new system.
Shares do not simply change hands between buyers and sellers — there are share registries, custodians and a host of other players, many of whom became concerned the new system would steal their business.
By the time the fifth delay to the rollout time was announced, it was obvious the project was on the rocks. At the end of 2022, it was canned, forcing the ASX to announce a $250 million write-off.
Brokers and investment houses had spent vast amounts too, replacing their systems to integrate with the blockchain dream that ultimately turned into a blocked drain.
Dominic Stevens, the ASX chief executive who commissioned the project, had left at the start of the year, leaving then chair Damian Roche to clean up the mess and to appoint Accenture to independently review what had gone wrong.
"On behalf of ASX, I apologise for the disruption experienced in relation to the CHESS replacement project over a number of years," he said at the time.
The original story was about letting
" ASX faces losing virtual monopoly as TPG bungle adds to a decade of woes "
On Wednesday, the ASX confused a listed company with a similarly-named foreign owned private equity group that was engaged in a huge takeover.
The mistake resulted in TPG Telecom shares plummeting 5 per cent, wiping $400 million from its market value, even though it had nothing to do with the $645 million takeover of automotive software group Infomedia.
If the original mix-up was bad, the inability of the ASX to rectify the situation turned it into a debacle, as traders pounded TPG Telecom's stock for hours.
And it's unlikely to be the last the operator hears from TPG, with the telco understood to be considering its legal options.
So maybe we are moving to the Chicago exchange ... ?
so let’s hope our hopes will come true! Hopefully
