ASX CEO Anthony Attia Accelerates T+1 Settlement Transition
Anthony Attia announced plans to expedite the Australian Securities Exchange transition to a one-day settlement period to maintain global competitiveness.
CEO Anthony Attia announced plans to accelerate the Australian Securities Exchange transition from a two-day (T+2) to a one-day (T+1) cash equity trading settlement period. The move aligns Australia with the United States, which adopted T+1 two years ago, and follows similar planned shifts in Hong Kong and Europe.
The ASX previously postponed this transition in 2024 to focus on a A$445 million technology overhaul of its clearing and settlement system, CHESS. While that project is not scheduled for completion until 2029, Attia intends to consult with regulators and market participants to bring the settlement change forward. He argues the exchange cannot wait for all technical issues to be resolved if it wishes to remain competitive.
This initiative follows a period of financial decline and regulatory scrutiny for the exchange. A previous regulatory investigation concluded that the ASX failed to invest sufficiently in its own infrastructure.
