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ASIC sues stock exchange ASX for alleged misleading CHESS statements

Pedestrians are reflected in a window as electronic boards display stock information at the Australian Securities Exchange, operated by ASX Ltd.
Photo: Lisa Maree Williams/Getty Images

Martina Lindberg

3 min read
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The Commission is taking ASX to the Federal Court for not being truthful about the replacement project’s progress.

ASX Limited, Australia’s largest market operator, faces court proceedings for allegedly making misleading statements regarding its Clearing House Electronic Subregister System (CHESS) replacement project.

The CHESS project has been going on for many years, and ASIC now alleges that statements made in February 2022 saying that the project was

“ASX’s

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