NOVA CMX Among the First to Achieve Accreditation on ASX's New CHESS Platform

SYDNEY - EntSun -- NOVA CMX, the leading capital markets operations automation platform, today announced it has achieved full accreditation on the new ASX CHESS platform, satisfying every functional and technical requirement set by the Australian Securities Exchange for software providers on the next-generation clearing and settlement infrastructure.

NOVA CMX is among the first post-trade platform to receive this certification - providing Australian stockbrokers, custodian banks and clearing participants with a certified platform as they prepare for the industry's transition to the new CHESS environment.

ASX's CHESS system has supported the clearing and settlement of Australian equities since 1994. Its replacement is one of the most significant market infrastructure modernisation programmes in Australian capital markets, with ASX moving to a phased implementation model. CHESS Release 1, covering clearing services, went live on 20 April 2026. Release 2, targeted for 2029, is expected to replace settlement and sub-register functionality, introduce ISO 20022 messaging interfaces, and deliver improved corporate actions functionality.

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NOVA CMX has completed the relevant ASX CHESS accreditation requirements, including connectivity, functional workflow validation, non-functional testing, resilience testing, and operational readiness activities.

The accreditation covers NOVA CMX's ASX CHESS connectivity, including support for the Release 1 clearing environment and readiness for the messaging framework that will underpin future CHESS releases.

"Achieving accreditation on the new ASX CHESS platform is an important milestone for NOVA CMX and reflects our long-term commitment to the Australian market." said Gopala Subramanium, Chief Executive Officer, NOVA CMX. "Australia is undertaking a major market infrastructure transformation. As brokers, custodians and clearing participants prepare for future CHESS releases, they need technology partners with proven connectivity, operational experience and a deep local market understanding. This accreditation reinforces our commitment to supporting clients with confidence, stability, and readiness."

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"CHESS Release 2 will extend well beyond a technical upgrade," said Gaurav Mehta (https://www.linkedin.com/in/gauravmehta7/), Chief Commercial Officer, NOVA CMX. "For many firms, it will require changes across operational workflows, messaging standards, integration models, and post-trade processes. Having completed the accreditation programme, NOVA CMX is well positioned to support Australian brokers, custodians, and clearing participants as they plan their transition strategies. Our focus is to help firms navigate that journey in a structured, low-risk manner while preparing for the future operating model of the Australian market."

The accreditation further strengthens NOVA CMX's position in Australia. As the industry prepares for CHESS Release 2 and other market-wide initiatives, including evolving settlement and operational requirements, NOVA CMX remains focused on helping firms modernise post-trade operations while reducing implementation risk and operational complexity.