Press Release · 15 June 2026

NOVA CMX Achieves Accreditation on ASX’s New CHESS Platform

Sydney, 16 June 2026 - For immediate release

NOVA CMX, the leading capital markets operations automation platform, today announced it has achieved full accreditation on the ASX CHESS platform, satisfying every functional and technical requirement set by the Australian Securities Exchange for software providers.

This achievement provides Australian stockbrokers, custodian banks and clearing participants with an accredited 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.

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.

“Achieving accreditation on the ASX CHESS platform is an important milestone for NOVA CMX and reflects our long-term commitment to the Australian market. 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, and stability.”

Gopala Subramanium · Chief Executive Officer, NOVA CMX

“CHESS Release 2 will extend well beyond a technical upgrade. 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 for this journey 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.”

Gaurav Mehta · Chief commercial Officer, NOVA CMX

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 implementing the new changes to ensure its clients are ready when cutover to the new CHESS platform happens. NOVA CMX is committed to helping firms modernise post-trade operations while reducing implementation risk and operational complexity.