MARKETS SPECTATOR: Raising ASX Ltd's performance

The ASX's capital raising might be best spent updating its antiquated software, Chess.

If ASX chief executive Elmer Kupper wants to impress his customers, he will use some of the $539 million Australia’s market operator plans to raise to invest in Chess.

Chess enables brokers, custodians, fund managers and settlement agents to settle trades made by themselves or on behalf of clients. Chess registers the ownership of shares.

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