ASX adds dedicated CIO position

ASX adds dedicated CIO position

The Australian Securities Exchange (ASX) is creating a standalone technology division under a dedicated chief information officer.

The exchange operator is splitting the current group executive, technology and data and CIO role, currently held by Dan Chesterman.

Chesterman will focus on leading the customer-facing technology and data business, currently the exchange's fastest-growing area.

Meanwhile, the new CIO - reporting directly to CEO Helen Lofthouse - will focus on ensuring system resilience across ASX, and the delivery of multi-year technology transformation programmes.

Says Lofthouse: "The change creates a single point of senior executive focus and accountability for delivering ASX’s enterprise-wide technology renewal programme, while also providing focused leadership for our technology and data business which is charged with maturing ASX’s enterprise data capability and growing ASX’s technical and data products and services.

“It also provides additional scope and bandwidth for Dan Chesterman and the team to focus their efforts on data and technology innovation, and expanding enterprise data capability across data science and analytics, information services, data governance and the ASX data platform.”

The changes won't affect ASX's troubled replacement of the Chess post-trade settlement system, which is being led by project director Tim Whiteley. In November, ASX finally pulled the plug on a much-delayed blockchain-based Chess replacement, writing off about A$250 million.

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