ACSA Industry Wrap - April 2026
Thursday, 7 May 2026
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Posted by: ACSA Admin
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In this Issue
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- Market update – ASX Release 1 update and DTCC tokenisation of real-world assets.
- Regulatory Update – Review of critical infrastructure regulations and AUSTRAC Reporting obligations
- Members Update – Next Generation Speed Networking event and ACSA Thought Leadership Series
- Global Perspective – ValueExchange Digital Collateral
- Industry Insights
- In Focus –Omar Khan (J.P. Morgan)
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Introduction
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Welcome to the April 2026 edition of the ACSA Industry Wrap.
In this edition, we share key updates on market infrastructure, tokenising real world assets and regulatory developments shaping Australia’s custody and investment services landscape. Highlights include the latest progress on ASX CHESS Release 1, insights from DTCC on tokenisation initiatives and important updates from Home Affairs and AUSTRAC.
This issue also features upcoming Speed Networking and Thought Leadership webinars covering global perspectives on ETF’s and Digital Assets. This month, we are in focus with Omar Khan from J.P. Morgan.
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Market Update
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CHESS Release 1 – Success
We congratulate the ASX on reaching a significant project delivery with all Market Operators now connected to the new version of CHESS. ASX confirmed it had reached this important milestone for the CHESS Project, with Release 1 of the application ready now providing clearing services.
At the end of April, they noted there had been 100% uptime and over 18 million trades processed in the first week following the cutover to new CHESS Release 1.
More information on the ASX CHESS project status can be found here.
Tokenisation of real-world assets – DTCC Advances development plans in US
DTCC has announced progress and timelines on the delivery of The Depository Trust Company’s (DTC’s) tokenization service, which is being designed with feedback and collaboration from more than 50 financial industry firms.
DTCC plans to facilitate the initial, limited production trades of real-world assets tokenised using DTC’s tokenisation service in July 2026 and then plans to launch the service in October 2026. DTCC will continue collaborating with the DTCC Industry Working Group to align best practices, advance industry readiness and prove operational and technical workflows, including the use of DTC tokenised assets in a production environment and their ability to interoperate across many chains.
DTC’s tokenisation service will enable the tokenisation of real-world, DTC-custodied assets that provide the same entitlements, investor protections and ownership rights as the assets held in traditional form, supported by DTC’s resilience and accountability. Today, DTC custodies assets valued at over $114 trillion.
You can find out more about this initiative 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.
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Regulatory Update
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Security of Critical Infrastructure Act 29028 – Independent Report
Dr. Jill Slay recently completed an Independent Review of the Security of Critical Infrastructure Act 2018 which was made public in March. The reviews finding were clear that the requirements of the SOCI Act are not aligned to the pace of the evolving threat environment. All six recommendations have been accepted in principle by the government, several of which are for mandatory threat intelligence sharing and two-way information across critical infrastructure sectors.
The review examined the SOCI Act's operation through comprehensive stakeholder engagement including 50 written public submissions, surveys from 89 respondents, interactive roundtables with over 600 participants, federal government department submissions, and international legislative comparisons.
Key Finding: Major Legislative Change is required. The overarching conclusion is that the SOCI Act requires major legislative change to remove complexity and confusion while becoming more agile and responsive.
Access the full report here.
AUSTRAC – Reminder of Reporting Entity obligations.
On 31 March, changes to the anti-money laundering and counter-terrorism financing (AML/CTF) obligations came into effect. These reforms aim to close the gaps criminals have been exploiting and strengthen Australia’s response to increasingly sophisticated financial crime. If you’re reporting to AUSTRAC, these changes now apply to you.
The core responsibilities haven’t changed; you still need to manage their risks, maintain an effective AML/CTF program and report suspicious matters on time. However, some requirements have changed. Please refer to the summary of changes for current reporting entities.
Updates are needed to AUSTRAC enrolment details, including AML/CTF compliance officer, by 30 May 2026. If you are a virtual asset service provider (VASP) you have until 29 July 2026 to update their details.
Check out our guide to see what information they’ll need to have ready when completing the new enrolment forms.
There are some important updates to the AML/CTF rules you should be aware of:
- Transitional rules — updated transitional arrangements are now in place to make the reforms easier to implement. These may give extra time to update systems, processes and AML/CTF programs, depending on when enrolled and the services provided.
- Amendment to the AML/CTF Rules 2025 — there are several amendments, including updates to:
o reporting groups
o technical requirements
o exemptions; and other key areas.
- Travel rule update — if you transfer or receive money,
virtual assets, or property on behalf of customers, you may need to collect, verify and share certain information as part of those transactions. These requirements typically apply to financial institutions, remitters and virtual
asset service providers. To help, quick guides are available covering their role in a transfer as the:
o ordering institution
o intermediary institution
o beneficiary institution
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.
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Members Update
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Next Generation Leaders – Speed Networking Event
Thursday May 14th
Are you new to the custody industry and curious about how custody industry executives established their careers?
ACSA Next Gen Leaders are pleased to present the 2026 Speed Networking Event.
Here’s how it works:
The ACSA Next Gen Leaders Working Group will allocate you to a group on the night (shown on your name badge) upon entry. You will have access to 10 of the industry’s top executives across leading custody organisations, who will share insights from their career journeys. Your group will rotate across executive tables in a structured format, with time for targeted questions each round.
The event will conclude with informal networking drinks to reconnect with executives and peers.
Benefits include:
- An opportunity to learn about other organisations within the industry and the overall custody industry.
- Mentorship and career opportunities.
- Learn how executives shaped their careers and unlocked opportunities you may not have seen previously.
This event is limited to 40 participants, so sign up by 8 May 2026 to secure a place.
Register here.
ACSA Thought Leadership Program
Here is an insight into upcoming ASCA Thought Leadership Program webinars:
Exchange Traded Funds: Growth, Innovation and Best Practice
Friday May 8th
Exchange
Traded Funds (ETFs) have become one of the fastest growing segments of Australia’s investment landscape — reshaping how investors access markets, manage risk, and implement portfolio strategies.
This ACSA webinar will explore
the continued growth of the ETF industry, spotlight current hot funds and product trends, examine best practice operational and governance approaches, and provide insights into the ACSA ETF Working Group’s focus and priorities.
Join us to hear from Industry experts: Rota da Silva, Ernst & Young, Marsha Lee, Calastone and Nicola Evans, J.P. Morgan.
Sign up for the webinar here.
2026 Fiscal Finale – ACSA Pre year-end tax update
Friday May 22nd
As the financial year draws to a close, the tax leaders of the Australian Custodial Service Association (ACSA) are sharing insights on key tax matters for ACSA members and their clients.
This update provides important information
from industry tax leaders on regulatory change, emerging trends, and potential implications for ACSA members and their clients. With the ever-evolving landscape of tax laws and regulations, staying informed is paramount to ensure compliance
and strategic tax planning.
Join us to hear from the ASCA Tax Working Group on key issues for financial year end.
Sign up for the webinar here.
Climate Reporting Obligations – What Asset Owners and Asset Managers Need to Know – and Do
Friday June 19th
Most Australians rely on investment and superannuation funds to safeguard their financial futures. With new climate reporting obligations rolling out across the country, these organisations must not only comply with regulations for
transparency on climate-related risks and opportunities, but must also strengthen their approaches to data sourcing, ownership and governance.
Effectively managing and verifying the accuracy of climate-related data is now critical, as these changes influence how funds structure governance, oversee risk management and ensure robust disclosures in the Australian market.
Join us to hear from a super fund, technology provider and a climate risk consultant who will discuss the practical impacts of the new reporting obligations.
Sign up for the webinar 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.
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Global Perspective
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Tokenised collateral goes global – latest insights from ValueExchange
Live repo trades are showing what tokenised collateral can do across borders, currencies and time zones. ValueExchange’s recent report, Tokenised collateral goes global, developed in partnership with Digital Asset, examines what is wrong with cross-border collateral markets, recent transactions, and what they mean.
The report shows:
- the current constraints in global collateral markets
- what it means for cross-border collateral markets
- what this means for adoption across North America, the UK and the EU
The key takeaway is clear: tokenisation is creating a practical framework for collateral mobility, operational efficiency and cross-border liquidity management.
Find out more by downloading the report here.
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Omar Khan – J.P. Morgan
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Omar has over 24 years of experience in the financial services industry, spanning funds management, superannuation, and securities services. He began his career in fund accounting and has since held roles in tax accounting, investment reporting, portfolio operations, investment compliance, investment operations, and analytics. Omar has worked at leading organizations including National Australia Bank, Zurich Investment Management, ipac/AMP, State Street, and BNP Paribas.
He currently leads the Investment Analytics team at JPMorgan Chase, overseeing Performance Reporting, Investment Compliance, ESG, and Risk for the ANZ region. Omar holds a Bachelor of Commerce (Accounting) from Western Sydney University.
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Quick fire five
Coffee or Tea? Weekdays – Coffee. Weekends - Tea
Tik Tock, Instagram or Facebook? Instagram
Pop, Rock or Rap? Rap
Cocktail or Wine? Cocktail
Summer or Winter? Summer
Can you briefly describe your role and responsibilities?
I lead the Data Solutions (Investment Analytics) team for JPM’s Securities Services clients. I have oversight of nine team members: three in the investment compliance function, four in the performance and risk function, and two project leads. My responsibilities include managing the Sydney team to ensure the timely and accurate delivery of performance and analytics, investment compliance, and portfolio insight reporting for 30 clients across the ANZ region.
What is the most satisfying part of your role?
The most satisfying part of my role is solutioning the ever-evolving and complex analytics needs of our clients. I enjoy keeping up with industry shifts and continuously upskilling through ongoing learning. Additionally, I value interacting with clients and gaining a true sense of how our service is evolving to become an extension of our clients’ businesses..
How do you motivate yourself and your team?
Taking an empathetic approach has always helped me ensure that my team understands I have a vested interest in how they work and that I am invested in their goals, career progression and success. Staying attuned to my team’s needs is important, which I achieve through regular engagement and by providing each team member with enough space to learn and add value. I strive to create a layer of trust where team members feel comfortable raising issues before they become significant issues. Recognizing achievements—no matter how small—also goes a long way in helping feel justifiably rewarded and valued.
What are some of the exciting places your career has taken you?
I was fortunate enough to visit Manila, Philippines, which was an eye-opening experience. Our offshore teams there are incredibly talented and foster a wonderful culture of warmth and family, which has had a positive impact on our ongoing relationships.
What advice would you give your 21-year-old self?
Maintain your focus—distractions will inevitably arise along your path. With the right guidance, expertise and by building strong relationships with stakeholders, anything is possible. Remember, only you truly know your value, and only you have the power to shape how you are perceived.
What’s excites you about the future of our Industry? (Include role of ACSA)
I believe we are privileged to work in an industry that is poised for continued growth. I look forward to ACSA playing a significant role in increasing awareness of our industry among the next generation of financial services professionals. I am also excited that our clients will continue to rely on us as a critical part of their business, strengthening our partnerships and contributing to their success, as well as the success of their clients.
The technological changes taking place make this an especially exciting time, as no year will be the same. I am eager to see how these advancements—particularly in AI—will shape our industry, impacting data, operational efficiency, and ultimately delivering positive outcomes for our clients.
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