Wilco International announced today that it had upgraded its CHESS Adapter, which provides connectivity with the Australian Stock Exchange (ASX) clearing and settlement service CHESS (Clearing House Electronic Subregister System).
Since acquiring the CHESS Adapter as part of the SUMMIT transaction processing product range it bought in February 2001 from Computershare, Wilco has continued to invest in its Australian market functionality. This includes development of Order STP, a SUMMIT module that ensures orders meet market and business validation rules, and checks the order flow and funding prior to execution.
Wilco will in future market its CHESS Adapter on a standalone basis in addition to marketing it as a module of se SUMMIT.
The CHESS adapter was upgraded in line with Release 5.2 of the ASX CHESS service, which is required by all systems that interface with CHESS and utilise the CHESS OCH (Options Clearing House) Collateral Lodgement suite of messages. Wilco’s adapter has been accredited by ASX, and was one of the first vendor systems to have successfully completed technical accreditation requirements.