In this Issue

• Market update – ASX CHESS Replacement Assurance Plan and Release 1 Consultation
• Regulatory Update – Government Response to CHESS Replacement Inquiry
• Members Update – ACSA Members Event, ACSA Member Development Program and Elevating Women’s Voices
• Global Perspective – Evolution of digital assets in the EU
• Upcoming Events
• Industry Insights
• In Focus – Karen Gilbert

Introduction

Welcome to the February 2025 edition. In this edition of the ACSA Industry Wrap we update you on ASX CHESS Replacement Assurance Planning, Release 1 consultation and the government’s response to CHESS Replacement.

This issue also shares some interesting global content on the evolution of digital assets in the EU and details of our next Members Event being ACSA’s member development program and the Elevating Women’s voices program.

This month we are In Focus with Karen Gilbert from State Street.

Market Update

ASX Assurance Plan for CHESS Replacement.

The ASX published its seventh independent expert report on the assessment of ASX’s Assurance Plan for the implementation of the CHESS replacement project.

The purpose of the independent assessment was to evaluate the governance processes over the ASX Assurance Plan for the CHESS replacement project and to assess the appropriateness of the completed assurance activities in the six-month period to determine whether the Assurance Plan continues to be “fit for purpose”. The independent expert defines “fit for purpose” as the extent to which the coverage, nature, extent, timing, sequencing and governance of the Assurance Plan is suitable for the size and complexity of the project.

You can access the report here.

The ASX also issued a consultation paper on CHESS Replacement Release 1 – Rules and Procedures, AMO Contractual Terms.

To facilitate the implementation of CHESS Replacement Release 1, ASX is required to amend the ASX Clear Operating Rules; ASX Clear Operating Rules Procedures; and ASX Operating Rules Procedures.
The objective of this consultation is to seek feedback on the operation of the proposed rule amendments and any unintended consequences. You can access more details on the consultation here.

Join the discussion.

If you’re interested in joining in ACSA’s discussions and response to market initiatives and industry consultations, please connect to us at admin@acsa.com.au.

Regulatory Update

Government response: Inquiry into the CHESS replacement project

Following its statutory inquiry into the Australian Securities and Investments Corporation (ASIC), the Takeovers Panel, and the corporations legislation, the Parliamentary Joint Committee on Corporations and Financial Services published its report, Competition in clearing and settlement and the ASX CHESS Replacement Project: The CHESS Replacement Project is too important to fail in April 2024.

The Parliamentary Joint Committee Report made twelve recommendations seeking to strengthen the oversight and regulation of Australia’s financial market infrastructure. The government responded to the report on February 27.

You can access more details on the government response here.

Join the discussion.                      

If you’re interested in joining in ACSA’s discussions and response to market initiatives and industry consultations, please connect to us at admin@acsa.com.au.

Members Update

ACSA Members Event

ACSA Member Event 

ACSA’s next Members Event, to be run concurrently between Sydney and Melbourne, is on Thursday 13th March 2025.

ACSA’s Executive board invites you to join them for an industry celebrate on our 30th year. You can hear about our 2024 ACSA Award winners and an external speaker on Diversity, Equity and Inclusion, plus connect and network with your peer’s and colleagues from the industry.

When: 13th March 2025, 4.30pm – 6.30pm

Agenda: Industry update and guest speaker followed by a networking cocktail event.

Sydney: JP Morgan, 85 Castlereagh Street, Sydney

Melbourne: Northern Trust, Level 12, 120 Collins Street Melbourne

Please register here, selecting your preferred location to attend in Sydney or Melbourne.

ACSA Member Development Program

ACSA is thrilled to announce the launch of the ACSA Member Development Program, a comprehensive initiative designed to assist in enhancing the skills, confidence, and professional growth of our working group participants and members. This program focuses on building trust, preparing effectively, communicating concisely and ensuring successful meetings. All while addressing the unique challenges faced by our community.

Each month, we will explore a different theme to empower you with the tools and techniques needed to excel in your professional endeavours.

In March, we will dive into the art of connecting and building rapport which will help you forge strong relationships based on trust. April will be dedicated to preparation, ensuring you can answer your colleagues most pressing questions and problems with confidence. May's theme will centre around concise communication, equipping you with techniques to convey your message clearly and effectively. Finally, in June we will focus on setting up successful meetings, providing strategies to engage stakeholders and keep discussions on track.

You can join the March session here.

2025 Elevating Women’s Voices Program – Do you want to be a participant or mentor?

NB: The only way to apply is through this short application process.

Participant application: CLICK HERE
Mentor application: CLICK HERE

This year, we are once again improving by expanding the program further into Melbourne and are looking for both mentors (female and male) and participants. Please note, the program is only available to staff members of AIMA, ACSA and members of 100 Women in Finance or CFA Australia.

Thanks to all our sponsors and hosts, with your amazing generosity the program is able to be provided free of charge.

2025 applications for Mentor and Participant Nominations will open 26th February 2025 and close 14th March 2025 – successful applicants will be advised shortly after 14th March 2025.

Participants
Are you, or do you know women with ~5-10+ years’ experience in their field, who are not yet experienced public speakers but are keen to start or accelerate their communications skills journey? We are looking for nominations from right across the industry to participate in this year’s program. You are welcome to nominate yourself or someone you believe would benefit from this program. These women could be portfolio managers, investment analysts, risk managers, investors, allocators, investment consultants, in investor-facing roles, operational functions or any other non-investment function. Participation is free (for AIMA/100 Women in finance/ACSA members and CFA) and participants must commit to participating in the full program outlined below, be prepared to give public speaking a go, and be willing to provide feedback to help us evolve and improve the program for future cohorts. We are capping the program at 60 participants this year in Sydney and a similar number in Melbourne. Please note that the program is Provided free of charge due to the generosity of our Sponsors and Partners.

Mentors
We are looking for 20+ mentors in Sydney & Melbourne (numbers dependent on participant numbers), of both women and men who have had extensive experience as a public keynote speaker, panel moderator, panelist, presenter, chair, or interviewer to work with a group of women within the program. Mentors will work in pairs with a group of 4-6 participants, helping participants put into practice and build on the skills that are discussed in the group training sessions. We are looking for people who can drive the objectives and impact of the program by bringing their passion and enthusiasm to support our participants. Responsibilities include:
Attending the training sessions, and ideally the launch and closing events outlined below,
Co-leading the four mentor sessions,
Liaising with the Elevating Women’s Voices committee on any questions, suggestions and feedback

The program runs from 1st May 2025 to 26th June 2025 and requires a commitment to all sessions. Please follow the links to find out more on the session details.

If you wish to apply or know someone who should be considered as a mentor or participant, please ask them to apply though the link to the short application for the program.

Participant application: CLICK HERE
Mentor application: CLICK HERE

Join the discussion. 

If you’re interested in joining in ACSA’s member engagement initiatives and industry consultation, please connect to us at admin@acsa.com.au.

Global Perspective

European Union’s Digital Future

In 2024, 64 entities (including central banks, issuers, banks, market infrastructures, investors, and technology providers) participated in the ECB DLT trials led by the European Central Bank.
The ValueExchange interviewed 32 of these participants in November/December 2024 to gather their insights into the ECB DLT trials and their views on the future of DLT in Europe.

Download the key findings report here to get The Value Exchange 's view on the current state and outlook for DLT across the European Union.