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The executive summary frames the review objective and scope, focusing on governance, risk and issues management, design and testing, resourcing, and implementation, and the evidence used from ASX documentation, interviews, and validated observations. It evaluates whether the new trading platform met internationally recognised standards and concludes on readiness for production implementation and ongoing availability, resource sufficiency, change control effectiveness, and rigor of risk management.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":11,"@type":70,"position":76},"https://docshare.wps.com/template/presentations/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/ibm-independent-expert-review-asx-trade-refresh-executive-summary-final-report/239473/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/ibm-independent-expert-review-asx-trade-refresh-executive-summary-final-report/239473.png","ImageObject",442,249,{"name":88,"@type":89},"Fahsai","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-23","2026-09-11",true,{"@type":98,"interactionType":99,"userInteractionCount":25},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What was the primary objective of the review?","Question",{"text":108,"@type":109},"The core objective was to provide an expert opinion on whether the new trading platform was reasonably expected to be ready for successful production implementation and ongoing availability.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"Which areas were included in the review scope?",{"text":113,"@type":109},"The scope covered project governance, project risk management, project design and testing, project resourcing, and project implementation, based on evidence from documentation and interviews.",{"name":115,"@type":106,"acceptedAnswer":116},"What key readiness-related conclusion was made?",{"text":117,"@type":109},"Despite completion and verification of formal implementation readiness processes, the factors cited indicate the platform was not ready for go-live given ASX’s near zero appetite for service disruption and identified testing, defects, and coverage issues.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},239473,1791716831,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":8,"category_name":11,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":25,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":37,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":20},549768702563,"https://ap-avatar.wpscdn.com/avatar/8000c4aa63b76e948b?x-image-process=image/resize,m_fixed,w_180,h_180&k=1786536092046926083","ASX Trade RefreshProject-IBMIndependent Review  \nExecutive Summary of IBM IndependentExpert Review-Final Report June 2021  \nContents  \n1.   Introduction and Scope04  \n2.   Conclusions05  \n3.   Recommendations Overview08  \n4.   Conclusions-Detail09  \n5.   Recommendations-Summary23  \n6.    Recommendations-Detail29  \n·The core objective of this review was to provide an expert opinion on,andto ascertain if it was reasonable to expect the new trading platformwas ready for successful production implementation and ongoingavailability.  \n·To support the project objective,IBM considered the following questionsduring the review:  \n·Whether the Project had sufficient resources(including financial,technological,and human resources)  \n·The robustness and rigour applied to risks and issuesmanagement by ASX during the Project  \n·The efficacy of the change control processes employedthroughout the Project  \n·The Project test plan effectiveness and whether it wascommensurate with risk appetite and the criticality of the ASXTrade system  \n·The implications of the Project on stakeholders,includingtechnology providers(vendors),other market operators,the  \n·Whether during the 2020 Incident,ASX took into considerationthe lessons learnt from the 2016 Incident  \n·The aspects of the Project that met,exceeded,or did not meetaccepted industry standards,frameworks,or practices  \n◎2021IBM AUSTRALIA LIMITED COMMERCIALIN CONFIDENCE  \n# Review Objective\n\nIBM was engaged to provide an independent review of the conduct and performance of the ASX TradeRefresh Project as a result of the 16th November 2020 market outage.  \nASX,in agreement with the Australian Securities and Investments Commission(ASIC)and the Reserve Bank of Australia(RBA)(the Agencies),undertook arequirement to commission an independent expert review(the Review)of the Project.The purpose of the Review was to examine the Project and assess whether itmet internationally recognised standards or frameworks and relevant securities industry practices,noting the critical nature of services provided by the ASX Tradeplatform.  \n# Review Scope\n\n·  During the review,IBM obtained inputs from ASX,third-party suppliers,  \nand market participants                    \n·IBM considered all aspects of the Project that would have had a materialbearing on the successful implementation and ongoing availability of atrading system or equivalent system.For the avoidance of doubt,thefollowing were the specific areas that were reviewed(In Scope):  \n·Project Governance  \n·Project Risk Management  \n·Project Design and Testing  \n·Project Resourcing  \n·Project Implementation  \n·The review established abody of evidence that comprised ASX provideddocumentation,interviews,and validated observations which takentogether,have been used to form the findings within this report.During thereview,IBM confirmed the factual basis of the observations with ASX.  \n·For the avoidance of doubt,the following were not included in thescope of the review:  \n·Services to remediate gaps or implement improvements that areidentified as part of the Review  \n·Except for the in-scope 3rd party suppliers and participants notedabove,interviewing the Client’s suppliers,or collecting orreviewing documentation from other Client suppliers  \n·Evaluation of \"Fair,Orderly and Transparent\"markets on the dayof the incident  \nFinal Report Overview  \n·IBM has delivered a detailed final report to bothASX and the Agencies as required on the 22nd ofJune 2021.  \n·The contents of the report is as below:  \n·  Chapter1-Introduction  \n·  Chapter 2-Objectives and Scope  \n·  Chapter 3-Review Conclusions  \n·  Chapter 4-Recommendations  \n·  Chapter 5-Detailed Findings by Phase  \n·  Chapter 6-Framework Assessment  \n·  Appendices(inc.documents received,and interviews conducted)  \nIBM made 8 conclusions in relation to the in-scope key questions.Each conclusion is based on detailedfindings that are contained Chapter 5 of the Final Report(1/2)  \n\n| Question   | Conclusion   |\n| --- | -","cbCaieQaRxg4XD9h","https://ap.wps.com/l/cbCaieQaRxg4XD9h","pdf",8823830,"English","# Review Objective\n## Review Scope\n# Final Report Overview\n## In-scope conclusions by question","[{\"question\":\"What was the primary objective of the review?\",\"answer\":\"The core objective was to provide an expert opinion on whether the new trading platform was reasonably expected to be ready for successful production implementation and ongoing availability.\"},{\"question\":\"Which areas were included in the review scope?\",\"answer\":\"The scope covered project governance, project risk management, project design and testing, project resourcing, and project implementation, based on evidence from documentation and interviews.\"},{\"question\":\"What key readiness-related conclusion was made?\",\"answer\":\"Despite completion and verification of formal implementation readiness processes, the factors cited indicate the platform was not ready for go-live given ASX’s near zero appetite for service disruption and identified testing, defects, and coverage issues.\"}]","IBM Independent Expert Review - ASX Trade Refresh Executive Summary (Final Report) | PDF",1789149439]