Shareholder Seeks Justice Over ASX Blockchain Debacle

Australian Securities Exchange (ASX) shareholder Rosherville Pty Ltd is seeking permission to sue former officers and directors over the failed blockchain-based overhaul of the exchange's clearing and settlement system, CHESS.

The project, which began in 2016, was expected to launch by December 2017 but was repeatedly delayed. In November 2022, the exchange paused it after a review found serious problems with the system's design. By May 2023, the ASX had fully dropped blockchain technology for the project.

The financial cost of the failed effort has been estimated at over $100 million. The ASX previously paid a $14.4 million penalty in July 2026 after admitting to misleading the market about the project's progress.