CHESS Replacement ProjectImplementation & Transition Webinar
25 October 2019
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2 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
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Your Participation
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3 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
981 169 163
Agenda
1. Connectivity
2. Industry Wide Testing
3. Technical Accreditation and Operational Readiness
4. Migration Dress Rehearsals
5. Attestation
6. ASX Change Control Period
7. Industry Transition and Cutover Timeline
8. Questions
9. Next Steps
4 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Presenters and introductions
Katie McDermottGeneral ManagerEquity Post Trade
Fraser MoodieManager, Connectivity & IntegrationEquity Post Trade
Tim HogbenChief Operating OfficerASX Group
5 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Approach for implementation, transition and cutover2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Go-Live
Iterative customer development and testing for software vendors and in-house systems connected to CHESS in a dedicated customer development environment
1
1
6
CDE 7 (last code drop)
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals Pre Go-Live
Connectivity
Attestation
> ASX will share an end-to-end timeline by:
• Highlighting the key activities to be performed
• Communicating key milestone dates for industry transition and cutover
Terminology
• CHESS users
‒ An entity that has access to some or all CHESS functionality in production. This includes clearing participants, settlement participants, Product Issuer Settlement Participants (PISPs), Approved Market Operators (AMOs), payment providers and share registries
• Software providers
‒ Third party software vendors or CHESS users who have their own in-house systems, who provide connectivity and software solutions that connect to CHESS
7 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Connectivity
ConnectivityConnectivity design decisions and requirements for industry wide testing and production
2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Pre Go-Live
Connectivity
Attestation
9 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
CDE 7 (last code drop)
Connectivity
1. What is connectivity?
There are two main network connectivity options for CHESS Replacement:> ASX Net* (Ledger API, AMQP, Browser, FIX Gateway**)
> SWIFTNet (MI Channel or InterAct)
2. What do CHESS users and software providers need to do?
Must have network connectivity in place prior to the commencement of industry wide testing (IWT) and migration dress rehearsals.
CHESS users only must test and rehearse with the same connectivity channels they plan to use in production.
3. What are the key dates?
All organisations that have ASX Net today, but do not currently use it to connect to CHESS, must validate their network design as soon as possible to ensure CHESS user host systems can connect to ASX Net.
If your organisation requires a new ASX Net installation, please submit an order form to Adam Bradley, [email protected] and copy [email protected], by 2 December 2019.
* IPSEC connectivity into ASX Net is available for CHESS users and software vendors using iVPN today and subject to ASX connectivity access policy
**FIX Gateway access is available to Approved Market Operators (AMOs) only10
Approach for implementation, transition and cutover2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Iterative customer development and testing for software vendors and in-house systems connected to CHESS in a dedicated customer development environment
1
1
Pre Go-Live
Connectivity – new ASX Net
Connectivity Provisioning
2
3
A
B
Submit order forms and install new ASX Net connections (if required)2
Provisioning of ASX Net and SWIFTNet connectivity to the test and target production environments
3
A All new ASX Net installs to be completed
B All ASX Net and SWIFTNet connectivity in place for testing and migration dress rehearsals
Attestation
11
Connectivity
CDE 7 (last code drop)
Industry Wide Testing
Industry Wide TestingDetails of testing activities to validate systems, processes and procedures
2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Pre Go-Live
Connectivity
Attestation
13
CDE 7 (last code drop)
ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Industry Wide Testing (IWT)
1. What is IWT?
IWT is the test period that follows development and testing in the Customer Development Environment (CDE).
The test environment for IWT is called the Industry Test Environment (ITE).
ITE provides for three separate activities which can all run in parallel:
> system testing
> technical accreditation
> operational readiness
All CHESS users and their software providers must connect to ITE to complete pre go-live activities.
14 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Industry Test Environment (ITE)
1. What is ITE?
ITE is based on production scale infrastructure.
It will be seeded with production reference data e.g. calendars, issuers, securities, end of day prices and User Identification Codes (UICs).
ITE will provide for:
> functional and non-functional (e.g. performance) testing
> connectivity with AMOs
> ability to create your own accounts
> end to end settlement flow
ITE will not provide for:
> any production data, directly or masked, relating to personal information*
> ASX trade feed (Signal B) and ASX Reference Point, and connectivity with Derivative Clearing System (DCS)
* CHESS users must not use personal information in ITE
15 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
System Testing
1. What is System Testing?All CHESS users, including software providers, will need to validate the system’s functional and non-functional capabilities.
2. What do CHESS users and software providers need to do?Test your system’s functional capabilities e.g. account set-up, pre-settlement, settlement, corporate actions, reporting and mFund:
> plan your test strategy• Most features can be tested on a self-serve basis
• Some features, such as corporate actions and un-netting, will be coordinated by ASX as these cannot be tested on a self-serve basis
> implement your test strategy• Conduct testing for functional capabilities to support your business
• You will have the option to test with other participants / CHESS users. This will not be orchestrated by ASX
Test your system’s non-functional capabilities including (i) connectivity to ITE; (ii) compliance with the new message constructs; (iii) performance testing; (iv) CHESS user failover and recovery.
3. What are the key dates?It is optional to test anytime from 1 July 2020 but you must have started system testing by 1 September 2020.
16 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Industry Wide Testing
2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
ITE continues to be available
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Pre Go-Live
Connectivity
Conduct Industry Wide Testing (IWT) in the Industry Test Environment (ITE). IWT allows for functional and non-functional testing.4
17
AttestationIndustry Wide Testing
Optional system testing Mandatory system testing
4
IWT allows for:• Non-functional testing• Functional testing
CDE 7 (last code drop)
ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Approach for implementation, transition and cutover2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Iterative customer development and testing for software vendors and in-house systems connected to CHESS in a dedicated customer development environment
1
1
Pre Go-Live
Connectivity
Connectivity – new ASX Net
Connectivity Provisioning (ITE & Prod)
Submit order forms and install new ASX Net connections (if required)2
Provisioning of ASX Net and SWIFTNet connectivity to the test and target production environments
3
2
3
A
B
A All new ASX Net installs to be completed
B All ASX Net and SWIFTNet connectivity in place for testing and migration dress rehearsals
Conduct Industry Wide Testing (IWT) in the Industry Test Environment (ITE). IWT allows for functional and non-functional testing
4
System testing starts Mandatory system testing
4
Attestation
18
CDE 7 (last code drop)
Technical Accreditation and Operational Readiness
Technical Accreditation and Operational Readiness
2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Pre Go-Live
Connectivity
Commence Technical Accreditation in ITE - mandatory for all systems connected to CHESS.5
Commence Operational Readiness in ITE - mandatory for all CHESS users.6
5
6
Attestation
20
CDE 7 (last code drop)
ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Technical Accreditation
1. What is Technical Accreditation?Technical accreditation covers both connectivity and messaging:
> Connectivity: testing connectivity, resiliency, performance
> Messaging: demonstrating compliance with new message formats, for example ISO 20022, FIX and Ledger API commands
2. What do CHESS users and software providers need to do?Only software providers must be technically accredited.
If you are using a software provider, or you plan on using the browser, you do not need to separately technically accredit.
3. What are the key dates?Technical accreditation:
> Connectivity accreditation period is available from 1 July 2020 until 30 September 2020
> Messaging accreditation is available from 1 July 2020 until 31 October 2020
Connectivity accreditation must be completed prior to messaging accreditation.
21 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Operational Readiness
1. What is Operational Readiness?
Operational Readiness is where CHESS users will need to demonstrate operational procedures and technical configuration using accredited software.
The scope will be appropriate to the participant’s / user’s role and services provided.
ASX will provide sample scenarios for CHESS users.
2. What do CHESS users and software providers need to do?
CHESS users must provide assurance your operational staff have completed sufficient training.
CHESS users must provide assurance that procedures and processes are updated.
CHESS users must successfully complete appropriate operational readiness testing and migration dress rehearsals.
3. What are the key dates?
Operational readiness and attestation cannot commence until systems have been accredited and therefore is optional from 1 September 2020 and must have started by 1 November 2020.
Operational readiness must be completed by 31 January 2021.
22 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Approach for implementation, transition and cutover2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
1
Pre Go-Live
Connectivity
Connectivity – new ASX Net
Connectivity Provisioning (ITE & Prod)
2
3
A
B
Conduct Industry Wide Testing (IWT) in the Industry Test Environment (ITE). IWT allows for functional and non-functional testing
4
4
Commence Technical Accreditation in ITE - mandatory for all systems connected to CHESS
5
Commence Operational Readiness in ITE - mandatory for all CHESS users6
C All systems successfully Accredited prior to 2nd dress rehearsal
D Operational Readiness to be completed prior to Attestation
5
6
C
D
Iterative customer development and testing for software vendors and in-house systems connected to CHESS in a dedicated customer development environment
1
Submit order forms and install new ASX Net connections (if required)2
Provisioning of ASX Net and SWIFTNet connectivity to the test and target production environments
3
A All new ASX Net installs to be completed
B All ASX Net and SWIFTNet connectivity in place for testing and migration dress rehearsals
Attestation
23
CDE 7 (last code drop) System testing starts Mandatory system testing
Migration Dress Rehearsals
Migration Dress RehearsalsDetails of migration dress rehearsals prior to being ready for go-live
2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Pre Go-Live
Connectivity
Attestation
25
CDE 7 (last code drop)
ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Migration Dress Rehearsals
1. What are Migration Dress Rehearsals?Mimic the production cutover and go-live event in the target production environment with production data.
De-risk the cutover event and build confidence on the activities to be performed.
2. What do CHESS users need to do?Mandatory participation in all planned migration dress rehearsals.
Complete the required activities, per an agreed run sheet, over a rehearsal weekend.
Ensure key staff understand their roles and responsibilities to support the go-live event.
Test communication channels and incident management procedures.
3. What are the key dates?
> Dress rehearsal #1 (MDR-1) - 26-27 September 2020*
> Dress rehearsal #2 (MDR-2) - 21-22 November 2020
> Dress rehearsal #3 (MDR-3) - TBA February 2021
26
* To be confirmed, pending confirmation on AFL Grand Final / VIC public holiday
ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Approach for implementation, transition and cutover2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Go-Live
1
Pre Go-Live
Connectivity
Connectivity – new ASX Net
Connectivity Provisioning (ITE & Prod)
2
3
A
B
4
Commence Technical Accreditation in ITE - mandatory for all systems connected to
CHESS5
Commence Operational Readiness in ITE - mandatory for all CHESS users6
5
6
C All systems successfully Accredited prior to 2nd dress rehearsal
D Operational Readiness to be completed prior to Attestation
C
D
MDR-1 MDR-2 MDR-3
Conduct three separate mandatory industry migration rehearsals
MDRConduct Industry Wide Testing (IWT) in the Industry Test Environment (ITE). IWT allows for functional and non-functional testing
4
Iterative customer development and testing for software vendors and in-house systems connected to CHESS in a dedicated customer development environment
1
Submit order forms and install new ASX Net connections (if required)2
Provisioning of ASX Net and SWIFTNet connectivity to the test and target production environments
3
A All new ASX Net installs to be completed
B All ASX Net and SWIFTNet connectivity in place for testing and migration dress rehearsals
Attestation
27
Migration Dress Rehearsals
CDE 7 (last code drop) Mandatory system testing System testing starts
Attestation
Attestation
2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Pre Go-Live
Connectivity
Attestation
29
CDE 7 (last code drop)
ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Attestation
1. What is Attestation?Final confirmation from all CHESS users they are ready for go-live.
Sign-off by an authorised party within your organization.
2. What do CHESS users need to do?> Complete operational readiness
> Prove your strategy for transition activities
> Prove connectivity to target production
> Ensure successful fail-over and rollback plans in place
> Successfully complete the final dress rehearsal
3. What are the key dates?> Attestation must be completed by 2 March 2021.
30 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Approach for implementation, transition and cutover2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
1
Pre Go-Live
Connectivity
Connectivity – new ASX Net
Connectivity Provisioning (ITE & Prod)
2
3
A
B
4
5
6
C
D
MDR-1 MDR-2 MDR-3
Commence Operational Readiness in ITE - mandatory for all CHESS users.6
C All systems successfully Accredited prior to 2nd dress rehearsal
D Operational Readiness to be completed prior to Attestation
Conduct three separate mandatory industry migration rehearsals
MDRConduct Industry Wide Testing (IWT) in the Industry Test Environment (ITE). IWT allows for functional and non-functional testing
4
Iterative customer development and testing for software vendors and in-house systems connected to CHESS in a dedicated customer development environment
1
Submit order forms and install new ASX Net connections (if required)2
Provisioning of ASX Net and SWIFTNet connectivity to the test and target production environments
3
A All new ASX Net installs to be completed
B All ASX Net and SWIFTNet connectivity in place for testing and migration dress rehearsals
Commence Technical Accreditation in ITE - mandatory for all systems connected to
CHESS5
Attestation
31
CDE 7 (last code drop) System testing starts Mandatory system testing
ASX Change Control Period
ASX Change Control Period
2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
Pre Go-Live
Connectivity
If you have planned system migrations, please contact ASX no later than
2 December 2019
ASX Change Control PeriodF
Indicative end ofChange Control Period
If you have planned system migrations or other significant changes to your CHESS configuration during this period,
please contact the Participant Transitions Team at [email protected] no later than 2 December 2019
Attestation
33
CDE 7 (last code drop)
E
Change Control Periodcommences
ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Industry Transition and Cutover Timeline
Approach for implementation, transition and cutover2019
2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2020 2021
Customer Development & Testing (in CDE)
CDE 1-5 CDE 6
Industry Wide Testing
Technical Accreditation
Operational Readiness
Migration Dress Rehearsals
Go-Live
1
Pre Go-Live
Connectivity
Connectivity – new ASX Net
Connectivity Provisioning (ITE & Prod)
2
3
A
B
4
5
6
C
D
Support
E ASX Change Control Period commences
If you have planned system migrations, please contact ASX no later than 2 December 2019
F ASX Change Control Period ends (indicative)
F
MDR-1 MDR-2 MDR-3
Conduct three separate mandatory industry migration rehearsals
MDR
Commence Technical Accreditation in ITE - mandatory for all systems connected to
CHESS5
Commence Operational Readiness in ITE - mandatory for all CHESS users.6
C All systems successfully Accredited prior to 2nd dress rehearsal
D Operational Readiness to be completed prior to Attestation
Conduct Industry Wide Testing (IWT) in the Industry Test Environment (ITE). IWT allows for functional and non-functional testing
4
Submit order forms and install new ASX Net connections (if required)2
Provisioning of ASX Net SWIFTNet connectivity to the test and target production environments
3
A All new ASX Net installs to be completed
B All ASX Net and SWIFTNet connectivity in place for testing and migration dress rehearsals
Iterative customer development and testing for software vendors and in-house systems connected to CHESS in a dedicated customer development environment
1
Attestation
35
CDE 7 (last code drop) System testing starts Mandatory system testing
E
Questions
Next Steps
Next StepsImmediate steps following today’s session
1. Review and feedback:
> Webinar recording and slides will be published on the CHESS Replacement webpage
> Provide feedback by contacting [email protected] – use “I&T webinar” as the subject heading
> Feedback welcome by COB 15 November 2019
> Please nominate two primary representatives to participate in the I&T Working Group
2. Connectivity options:
> For any planned major transformations – get in touch with ASX’s Participant Transitions Team
> Determine your target connectivity for IWT / Go-Live
> Consider timeframes for your connection to ASX Net:• New instances must be ordered by 2nd December 2019
> Key dates for order forms:• ASX Net – available now, please contact [email protected]• ITE – available February 2020• Target Production – available February 2020
38 ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Next StepsFuture I&T working groups
39
> Next meeting to be held in November via webinar:
• Date: to be announced; invitations to follow
• Topic: Account migration including new registration standards
> Forward meeting plan will be updated on the CHESS Replacement webpage. Future topics to include:
• ASX response to market feedback
• Technical accreditation, operational readiness, and attestation
• Cut-over weekend activities
> More information will be published on the CHESS Replacement webpage:
• http://www.asx.com.au/services/chess-replacement.htm
ASX CHESS Replacement I Implementation & Transition webinar I October 2019
Thank you.
Disclaimer
This document provides general information only. ASX Limited (ABN 98 008 624 691) and its related bodies corporate (“ASX”) makes no representation or warranty with respect to the accuracy, reliability or completeness of the information. To the extent permitted by law, ASX and its employees, officers and contractors shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from anyone acting or refraining to act in reliance on this information.
© 2019 ASX Limited ABN 98 008 624 691
42 ASX CHESS Replacement I Implementation & Transition webinar I October 2019