The ASX has secured agreement from ASIC and the Reserve Bank of Australia (RBA) on a revised transformation plan, marking the next phase of its response to last year’s regulatory scrutiny.The revised Accelerate Program, which the ASX committed to reset by 1 July 2026 following the ASIC Inquiry’s interim report released in December, adopts an enterprise-wide approach aimed at strengthening the exchange’s leadership, governance and operational capabilities.
The redesigned program consolidates its work into five core priorities: culture and leadership, risk transformation, operational resilience, resource sufficiency, and governance. It also includes adjacent initiatives covering data management, cyber risk and technology resilience, each with defined milestones and target outcomes.
Interim chief executive, Darren Yip, said the revised program provided greater clarity around the exchange’s transformation objectives while aligning more closely with regulatory expectations.
“The reset gives us a clearer definition of success, links our activities directly to measurable outcomes and ensures the program sets the right ambition for ASX while also being aligned with regulatory expectations.
This is an important step in strengthening how we deliver change across ASX and should build confidence in our role as a steward of critical market infrastructure.”
Yip said the exchange’s attention had now shifted from planning to implementation as it sought to restore confidence in its critical market infrastructure.
“Our focus now is on execution. We recognise that rebuilding trust will be achieved through embedding the transformation required, and we remain focused on implementing this plan in a disciplined and transparent way.”
The updated plan also incorporates commitments ASX previously made to strengthen leadership and improve the governance and independence of its clearing and settlement facilities.
Although work on several initiatives had already begun, ASX said implementation of the reset Accelerate Program commenced today and would continue under the oversight of ASIC and the RBA.
The exchange has also appointed Promontory to provide external assurance by assessing delivery against the program’s milestone plan.
