Listed Entities Update 10/16 - Important ASX listing rule information
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Listed@ASX
Compliance Update
14 October 2016
Update no 10/16
 
1. Replacement of CHESS for equity post-trade services
On 19 September 2016, ASX released a consultation paper entitled ASX's Replacement of CHESS for Equity Post-Trade Services: business requirements which outlines ASX's plans for the replacement of the CHESS system that currently underpins the post-trade processing of all equity securities trading in the Australian market. ASX seeks the views of stakeholders, including listed entities, on their requirements for the replacement system.

The consultation paper provides an overview of the functions performed by CHESS today. This includes maintaining a 'subregister' of owners of financial products that are listed or admitted to trading status on an approved listing market, and updating the subregister to reflect transfers between buyers and sellers and entitlements resulting from corporate actions.

The consultation paper also seeks feedback on a suite of enhancements to current functionality that could be introduced as part of the development of the replacement system.

Written submissions are requested by Friday 28 October 2016. Submissions should be sent to regulatorypolicy@asx.com.au.

Further information is available on the ASX CHESS Replacement webpage. ASX will provide further updates to listed entities through the course of the project.

2. Announcements lodged just before market open or close
Listed entities are reminded that ASX Market Announcements Office tends to receive higher volumes of documents for release to the market just before the market opens at 10:00 am AEDT and just before the market closes at 4:00 pm AEDT. This may lead to slightly longer processing times during these peak periods than might be the case during other parts of the day.

An announcement should be submitted to ASX Market Announcements Office by no later than:

• 9:30 am AEDT if it is to be released by market open at 10:00 am AEDT; or
• 3:40 pm AEDT if it is to be released by market close at 4:00 pm AEDT.


Meeting these submission times will not necessarily guarantee publication of the announcement by market open or close, especially if the ASX Market Announcements Office identifies any concerns with the announcement that may require discussion with the entity or its Listings Compliance adviser. Not meeting them, however, will significantly increase the likelihood of the announcement not being released in time.

If a listed entity is trying to lodge a market sensitive announcement before market open and it becomes apparent that it will not be able to submit it to the ASX Market Announcements Office by 9:30 am AEDT, it should immediately contact its Listings Compliance adviser to discuss the options available. This may include putting in place a short trading halt under Listing Rule 17.1 to cater for any delay in the release of the announcement and to ensure the market does not trade on an uninformed basis.

A listed entity should, wherever possible, try to avoid lodging announcements between 3:40 pm and 4.11 pm AEDT as this may interfere with the closing single price auction which occurs between 4:10 pm and 4:11 pm AEDT each day.

3. Next non-business day
ASX reminds listed entities that the next non-Business Day is Tuesday 1 November 2016, Melbourne Cup Day. Please take this into account if you are planning the timetable for a corporate action that will run over a period including that date. Despite being a non-Business Day, this day is a trading day and ASX will be open for trading on Melbourne Cup Day.

4. Periodic report due date reminder
Listed entities are reminded of upcoming deadlines for periodic reports:

• Annual Reports, 30 June balance date - Monday 31 October 2016
• Quarterly Reports for Mining and Commitments Test Entities - Monday 31 October 2016*

* Entities are reminded that the Appendix 4C and 5B quarterly cash flow reports were updated in September 2016. The updated forms are available at: http://www.asx.com.au/regulation/compliance/compliance-downloads.htm

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