Market structure changes, such as the potential shortening of the securities settlement cycle in Europe and Asia and the expansion of the regulatory mandate to clear Treasuries in the US, will place significant pressure on firms to modernise their systems. In Australia, Phase 1 of CHESS replacement takes place.

What will be the impact of Phase 1 if not all stakeholders are ready to go live? Are participants

ready to automate post-trade activities? Is competition in clearing on the table in Australia and if so, what changes would it bring?
Professional standards CPD: 0.67 General
ASIC RG146 CPD: 0.67 Generic knowledge