Chess – Forum Frei http://forumfrei.net/ Wed, 11 May 2022 23:19:31 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://forumfrei.net/wp-content/uploads/2021/10/icon-4-120x120.png Chess – Forum Frei http://forumfrei.net/ 32 32 ASX Postpones Long-Awaited CHESS Replacement – ​​Again https://forumfrei.net/asx-postpones-long-awaited-chess-replacement-again/ Wed, 11 May 2022 23:19:31 +0000 https://forumfrei.net/asx-postpones-long-awaited-chess-replacement-again/ The ASX has announced that its April 2023 “go-live” date for its $250 million CHESS replacement system using blockchain technology will be pushed back again. The highly anticipated overhaul of the Australian Securities Exchange’s (ASX) clearing and settlement technology has faced further delays, with the exchange announcing this week that the April 2023 “go-live” date […]]]>
The ASX has announced that its April 2023 “go-live” date for its $250 million CHESS replacement system using blockchain technology will be pushed back again.

The highly anticipated overhaul of the Australian Securities Exchange’s (ASX) clearing and settlement technology has faced further delays, with the exchange announcing this week that the April 2023 “go-live” date is “no longer viable”.

The replacement for the Clearing House Electronic Subregister System (CHESS) incorporates distributed ledger technology to enable instant transactions and automated real-time records.

ASX’s $250 million project, billed as the “costliest and oldest blockchain project”, was first expected to be ready for industry-wide testing in July 2020 and fully functional by April 2021. This date was later postponed to April 2022 and pushed back again to April 2023.

This week’s announcement comes after the ASX informed CHESS users, software vendors and stakeholders of the high likelihood of a delay just over a month ago.

A new “go-live” and hopefully a final date is still in question and should be announced after June.

Stakeholder input to establish a new deadline

ASX has confirmed that it will rely on “stakeholder input” to achieve a new deadline and project milestones, which will include industry testing, operational readiness, market testing and ultimately the technology implementation.

The exchange remains confident in the proposed replacement for CHESS to “balance security and efficiency”, but insists that the existing CHESS system is “robust” and “works well”.

Ongoing issues forcing continued delays

A number of role changes in the ASX have been identified as contributors to the continued delays.

ASX Deputy Managing Director and Head of Group Business Development Peter Hiom, head of the project himself, resigned last year after 23 years and was replaced by Tim Hogben who took on the role of Group Director. ‘ASX.

ASX chief executive and chief executive Dominic Stevens also announced he would be retiring, prompting Ord Minnett chief executive Karl Morris to note that replacing Mr Stevens would likely bring a different approach to the project, which could lead to further delays.

“I wouldn’t be surprised if there were any significant different decisions when a new chief executive takes over,” Mr Morris said.

ASX uses its monopoly to buy time

Morningstar analyst Gareth James says the ASX’s continued delays in transitioning points to the exchange are acting “monopolistically.”

“ASX has this incredibly strong monopoly that hurts business innovation and efficiency,” he said.

Mr James is not surprised to see the ASX implement further delays, saying “operational issues” are causing people to leave the company.

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ASX CHESS replacement program delayed, Tim Hogben admitted disappointment https://forumfrei.net/asx-chess-replacement-program-delayed-tim-hogben-admitted-disappointment/ Wed, 11 May 2022 04:13:38 +0000 https://forumfrei.net/asx-chess-replacement-program-delayed-tim-hogben-admitted-disappointment/ The Australian Securities Exchange has once again delayed the launch of its long-awaited technology overhaul, scrapping the deadline for the fourth time and casting doubt on the future of the flagship project. The ASX was scheduled to launch the CHESS replacement program in April 2023, but the exchange said on Wednesday it was “no longer […]]]>

The Australian Securities Exchange has once again delayed the launch of its long-awaited technology overhaul, scrapping the deadline for the fourth time and casting doubt on the future of the flagship project.

The ASX was scheduled to launch the CHESS replacement program in April 2023, but the exchange said on Wednesday it was “no longer viable.” The program was promoted as using blockchain technology to improve basic business services.

ASX Group executive Tim Hogben said last year that only a US-China war could delay the deployment of CHESS. Credit:Paul Jeffers

The company did not provide a new timetable for commissioning the project, in a development that group leader Tim Hogben said was needed to allow for further consultation.

“I acknowledge the disappointment that we were unable to provide further guidance on key project dates to help you plan and budget for the replacement of CHESS,” he said. “I can now confirm that April 2023 for commissioning is no longer viable.

“ASX’s priority remains to deliver the CHESS replacement in a way that balances safety and efficiency. Continued engagement with the industry is a key ingredient. The existing CHESS system remains robust and continues to perform well in the meantime. .

The ASX has been investing in the technology project since 2017 and the go-live date has been pushed back due to a range of factors including COVID-19, industry complaints about lack of consultation and technology setbacks .

ASX Deputy Chief Peter Hiom was originally responsible for the project, but quit last year after 23 years in the business. Hogben replaced Hiom in project supervision, who said at the time that a major geopolitical crisissuch as a war between China, Australia and the United States, would further delay the deployment of the project.

ASX chief executive Dominic Stevens has announced he plans to retire this year in February, and a search is underway for his replacement. Ord Minnett chief executive Karl Morris said he wouldn’t be surprised if the new chief executive took a different approach to the project.

“I wouldn’t be surprised if there are significant different decisions when a new CEO takes over,” Morris said. “To make sure the path they’ve taken is the right one.”

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Chess: Magnus Carlsen ‘unlikely’ to defend crown, but questions remain | Magnus Carlsen https://forumfrei.net/chess-magnus-carlsen-unlikely-to-defend-crown-but-questions-remain-magnus-carlsen/ Fri, 22 Apr 2022 07:00:00 +0000 https://forumfrei.net/chess-magnus-carlsen-unlikely-to-defend-crown-but-questions-remain-magnus-carlsen/ Magnus Carlsen again said it was ‘unlikely’ he would defend his world title against the winner of the eight slated contenders in Madrid in June and explained he felt more comfortable in the years leading up to 2013 when he was ranked No. 1 but had yet to defeat India’s Vishy Anand in the world […]]]>

Magnus Carlsen again said it was ‘unlikely’ he would defend his world title against the winner of the eight slated contenders in Madrid in June and explained he felt more comfortable in the years leading up to 2013 when he was ranked No. 1 but had yet to defeat India’s Vishy Anand in the world title match in Chennai. Since then, Carlsen has won five league matches – two against Anand and one against Russian Sergey Karjakin, American Fabiano Caruana and Russian Ian Nepolmiachtchi.

Carlsen’s statement, made in an interview with Norwegian newspaper VG, goes further than when he last spoke about the title after his crushing victory over Nepomniachtchi in December. Then his position was that he would only play a challenger from a younger generation, which indicated Alireza Firouzja, 18, formerly from Iran and now from France, who in 2021 became the youngest in history failures to reach a score of 2800, a level recognized for world champions and challengers.

This time, no reference to Firouzja, who has played little since his successes last fall, but is believed to have prepared opening bombs and is still firmly established among the Candidates’ favourites.

3812: Leonid Goltsov v Viktor Moiseev, Kazan 1970. White moves and wins. A quick fix is ​​needed before Black can counter with Rxf2+.

Against Firouzja, it is the poor record of the teenage candidates, since Bobby Fischer (twice), Boris Spassky and Carlsen himself failed to win, while the youngest world champions of all time remain Garry Kasparov and Carlsen at 22, followed by Mikhail Tal and Anatoly Karpov at 23.

That still leaves a practical question that won’t be answered until June. Will Carlsen relinquish his title yet again if the challenger’s backers can significantly increase the prize pool from its current level of €2m? The amounts are now much larger, but the problem is much the same as in 1972 when Bobby Fischer hesitated in New York when the opening ceremony of his series against Boris Spassky was to begin in Reykjavik.

This historic match, and the global chess boom that followed it, was saved when Fide President Max Euwe postponed the match for two days, during which English financier and chess enthusiast Jim Slater doubled the price from $125,000 to $250,000 and Fischer boarded the next plane for Iceland.

If either of the two Americans, Caruana or Hikaru Nakamura, becomes the official challenger, there must be a serious chance of an offer from Rex Sinquefied, the billionaire who made his hometown St Louis a world chess center. and is an admirer of Bobby. Fischer, whom he once met on a plane trip and urged him to “beat those Russians.” Sinquefield, if he wanted to, could afford to double the price as an echo of 1972.

There are also plausible scenarios where Carlsen refuses to play and, under Fide rules, the winner and runner-up meet for the world championship. It would effectively produce two world champions, as happened between 1993 and 2006, a 13-year hiatus that would likely be much shorter this time due to the widespread desire for a reunification game again.

While Firouzja is the main teenage contender, others are improving fast. Rameshbabu Praggnanandhaa, 16, won the Reykjavik Open this month and is already being hailed by some Indian media as the next world champion.

Both Carlsen and Praggnandhaa are among eight competitors in the Oslo Esports Cup, which kicks off at 5 p.m. Friday. This is an online event but with the difference that all players will be based in the same broadcast studio. This is the third event on the 2022 Meltwater Champions Tour and Carlsen, who won the 2021 Tour and the first two tournaments in 2022, will be aiming to continue his monopoly. However, Praggnanandhaa beat the world champion in February at the Airthings Masters to become the youngest player to beat Carlsen in serious competition.

Abhimanyu Mishra, 13, and Dommaraju Gukesh, 15, fully matched Praggnanadhaa’s achievements based on age and rating. Mishra became the youngest grandmaster ever at 12, breaking the long-standing age record set by Karjakin in 2002. He secured his title via all-play-all tournaments in Budapest which were criticized as too contrived, but in Reykjavik Mishra answered his detractors by sharing the second prize. His rating is well into the 2500s, and serious California funds are backing him to climb to the top.

Gukesh is a year younger than Praggnandhaa, but has already broken into the world’s top 100 players. The 15-year-old has come a long way in four years when his behavior when winning in time from a lost position Nigel runs angry.

Gukesh’s style in Reykjavik and in his maiden La Roda win last weekend showed extremely precise and economical style with a variety of standard openings. Almost all of his La Roda wins were under 30 shots and it was like watching Fischer and Spassky teenagers in the 1950s.

Two matches stood out. One as Blackwhere he castled before storming the white king with his K-faced pawns, and the other than white against an international master, where his h4-h5-h6 push thwarted Black’s defensive options.

3812 1 Qe8+ Kh7 2 Ng5+! hxg5 3 Rh3+ Kg6 4 Rh6+! and if Kxh6 5 Qh8+ Kg6 5 Qh5 mate or if gxh6 6 Qg8 mate.

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Anzac Day and a very special chess set https://forumfrei.net/anzac-day-and-a-very-special-chess-set/ Wed, 20 Apr 2022 01:20:28 +0000 https://forumfrei.net/anzac-day-and-a-very-special-chess-set/ The special hand-carved chess set. A Botany Downs reader shares the story of her husband’s loss, the importance of Anzac Day and a wonderful hand-carved chess set by a war veteran While the lockdowns have been hard on everyone, I think they’re much worse for people who are alone. I found out about this first […]]]>

The special hand-carved chess set.

A Botany Downs reader shares the story of her husband’s loss, the importance of Anzac Day and a wonderful hand-carved chess set by a war veteran

While the lockdowns have been hard on everyone, I think they’re much worse for people who are alone.

I found out about this first hand as initially my husband Graham was here but he was unwell and so when it was time for ‘Standing At Dawn’ on Anzac Day I did it myself -same.

However, several neighboring households were there a little later. It was quite strange to be there in the dark. I took an electronic candle and then there was the wonderful sound of a bugle call. I will never forget this Anzac Day 2020.

Earlier when Graham wasn’t so ill, we went for Valentine’s Day at the RSA and there was music on the deck of the RSA too, but after that Graham’s health deteriorated.

One evening, he came out of the kitchen after making a coffee, then suddenly fell to the floor and the cup made a thud.

I ran to him and he said to me: “help me up”. These were his last words.

They transferred him from Auckland Hospital to Middlemore Hospital to facilitate my visit. It was an awful visit as there was a long wait to pass the sentries at the entrance.

When I finally saw Graham, he was alone in a room. I talked to him to see if he would wake up. After a long time doing this, I started to worry. When a nurse came by, she told me to whisper in her ear because the hearing concerns the last faculty to go. She upset me by saying that.

Worse still, she came and gave me a pamphlet that said, “What to expect when someone is dying.” It was so overwhelming that this news coming like this just seemed terribly distressing.

She later returned with her patient’s belongings bag which contained all of his belongings – what he was carrying – his wallet and his watch. I was carrying this big bag and got upset because I had parked far away to avoid parking fees.

This routine lasted four days.

On the fifth day I was about to be discharged when the phone rang and it was the hospital that gave the worst news, that he had died around 7am.

Then they asked me if I wanted to see him. I said I didn’t know. So the woman said, “Well, if you’re not sure, then you better do it because later on you might regret not seeing it.”

So I decided to do it and it was downstairs where he was lying wrapped up like a mummy.

I thought it was odd that there were beads of sweat on his forehead, as if he was struggling.

It was horrible because I had never been in a hospital morgue before. Under the tight confinement, I could not organize anything for his funeral. The undertaker I called told me he wanted the money, then he came back a few days later with the ashes.

The lockdowns have been so horrible. I did some gardening and before it wasn’t so bad we met I played a lot of Scrabble and Graham asked me if I’d like to learn chess. My brother had taught it to me a long time ago but I didn’t remember it very well.

Graham pulled out the chess set and said it was his grandfather’s game that he had made by hand. I watched it for a very long time and was amazed by all the details of the parts. It was extraordinary that this wooden set could be carved entirely by hand.

Graham told me the story behind it all. The chess set had been handcrafted by his grandfather on his father’s side of the family. Graham told me that when he was a little boy he sometimes went and stayed with his grandparents in a villa in Kingsland.

His grandmother was quite cheerful and would talk to him when she tasked him with doing chores in the kitchen stirring this or measuring that. They had a lot of good times together but he wondered why Grandpa was still in that room at the other end of the house.

He would just go out, have his dinner, then walk back into that same room and close the door behind him, like he just wanted peace.

One day Grandma told Graham that Grandpa had gone overseas to fight in World War I and he had fought at Gallipoli and he was never the same again, so he had a small carpentry shop in the spare room and just worked making wooden things like the chess set all day.

One day, Graham says, the grandfather told him he would take him to the woodworking room and show him around, as long as he didn’t touch anything. Apparently there were all kinds of items in various stages of manufacture. Graham would have been a brilliant little guy and would therefore have understood all the elements at different stages of construction.

Graham was delighted that the game of chess had been passed on to him. He received it as pictured, with the small piece of fabric – tied in a knot [below]- on the main container which contained all the parts.

When I look at his detail, I think of all the hours he must have spent carving the delicate little pieces. I guess that may have been his way of coping with what would have been an absolutely horrific time to go through, the terrible fighting in Gallipoli where so many lives were lost.

I showed the game of chess to John Spiller, a member of the local Howick board, knowing that his brother Paul is an avid chess player and also a chess champion.

I was quite amazed when John – with his keen eye for detail – flipped the board over and noticed there was a set of checkers on the back.

Graham took me to Kingsland where he tried to find his grandparents’ old house. He thought he had found it but wasn’t absolutely sure, as there were a few similar ones.

Incidentally, my grandson Billy was at a chess club in Howick Intermediate and the Times ran an article about it with a picture of Billy.

I was taking a photo of them as my brother Warwick lives in Canberra and was there for a short break.

However, in the background you can see Billy and Warwick totally engrossed in a game of chess with the chess set made by Graham’s grandfather.

After their match, Graham realized that Warwick had won but Graham told him, “If I were you, I wouldn’t be playing Billy again.”

A crucial game of chess is taking place in the background.

He is now fully grown and currently in the United States where he has a great job using his extraordinary artistic ability.

It is very likely that Billy will inherit this remarkable chessboard. I often think of Graham’s grandfather, how many hours he must have worked in that carpentry. It sounds sad to think about it, but people have different ways of coping with trauma.

Around Anzac Day I always like to be at a poppy stand for the Howick RSA and also go to Waikumete Cemetery to lay a poppy or flowers on my father’s bronze plaque. SA Hughes. He fought in the 35th Battalion, 3rd Army in the Pacific as a Vickers Gunnery Sergeant.

My grandchildren laying a poppy and flowers on my father’s bronze plaque in Waikumete Cemetery.

While our grandchildren Billy, Nicole and Jorgia laid flowers for the grandfather they never knew, Graham searched through the many numbers for his grandfather’s plaque. There were so many of Gallipoli. Then the sky opened up and the heaviest rain fell and we had to leave.

Maybe this year I can go west and find him.

Colleen M Wright, Botany Downs

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Makerere University pawn to victory at FEAUS Women Games 2022 https://forumfrei.net/makerere-university-pawn-to-victory-at-feaus-women-games-2022/ Sat, 16 Apr 2022 19:37:07 +0000 https://forumfrei.net/makerere-university-pawn-to-victory-at-feaus-women-games-2022/ 1st East African University Sports Federation (FEAUS) Women’s Games: Chess: Gold: Makerere University Makerere University won gold in the 2022 Federation of East African University Sports (FEAUS) Women’s Games hosted by Busitema University. The team of five for the champions included Patience Nassimbwa, Allen Nabacwa Kyolaba, Margret Musoke Nassiwa, Glory Mukisa Bbumba and Patience Namaganda. […]]]>

1st East African University Sports Federation (FEAUS) Women’s Games:

Chess:

  • Gold: Makerere University

Makerere University won gold in the 2022 Federation of East African University Sports (FEAUS) Women’s Games hosted by Busitema University.

David Isabirye is a senior writer for Kawowo Sports, where he covers most major events. More by David Isabirye

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The Official Staunton Chess Company raises the benchmark in replicated Staunton Chess Sets. https://forumfrei.net/the-official-staunton-chess-company-raises-the-benchmark-in-replicated-staunton-chess-sets/ Tue, 12 Apr 2022 10:42:00 +0000 https://forumfrei.net/the-official-staunton-chess-company-raises-the-benchmark-in-replicated-staunton-chess-sets/ staunton 1849 chess set 1849 Staunton Antique Chessboard 1849 staunton chess pieces Chess has remained one of the most played games in the world due to its complex and engaging nature, says The Official Staunton Chess Company founder Carmelo WHITCHURCH, SHROPSHIRE, UK, April 12, 2022 /EINPresswire.com/ — Chess has remained one of the most played […]]]>

staunton 1849 chess set

old chess board

1849 Staunton Antique Chessboard

1849 staunton chess pieces

Chess has remained one of the most played games in the world due to its complex and engaging nature, says The Official Staunton Chess Company founder Carmelo

WHITCHURCH, SHROPSHIRE, UK, April 12, 2022 /EINPresswire.com/ — Chess has remained one of the most played games in the world due to its complex and captivating nature. Founder of The Official Staunton Chess Company, Carmelo Miceli has enjoyed chess since childhood and has made it his mission to provide high quality Staunton. Chess games to other passionate gamers. The beautiful, handcrafted wooden patterns delight chess players all over the world, from beginners to experts. Carmelo talks about his business and explains why he thinks chess has remained such a popular game.

Hi Carl, thanks for speaking with us. Can you tell us a bit about yourself to start?

Hi Monica, and thank you for taking the time to interview me today. Carl, by the way, is a nickname given to me by those who have trouble remembering my real name, which is Carmelo Miceli. I am the owner of The Official Staunton Chess Company. I started the company in 2003.

When did you start getting interested in chess? Have you always had a love for her?

I had my first introduction to the game of chess in elementary school with the science teacher, Mr. Brown, who ran the after-school chess club for an hour. I was hooked from the first movement! I seem to remember that chess took a back seat for quite a while. Football seemed to take over so I would say chess has been replaced, pun intended!

What led you to develop your business, Official Staunton?

I had a brainstorm to reintroduce chess games and high quality chess boards 1900s with an emphasis on reproducing them with great precision, care and attention to the finer details such as the intricate hand carving of the knight chess pieces specifically. I wanted to raise the quality benchmark higher than anything introduced before by our predecessors.

Can you tell us a bit more about the range of products you sell?

Of course, we cater to those looking for a basic chess set, mid-range upgrade sets, and high-end deluxe chess sets for collectors. These are one of our specialties and make excellent corporate or Christmas gifts. We also supply chess schools and clubs.

What makes Official Staunton unique?

What sets us apart is our total dedication to the development and continuous improvement of existing designs. We are constantly pushing the boundaries using a mix of luxury materials to create some of the finest chess sets and chess boards in the world.

Why do you think chess has remained such a popular game around the world?

Chess isn’t just a game, it’s not Monopoly or Cluedo, it’s so much more engaging! From personal experience, I can testify that the deeper you go into chess, the more you need to absorb! I’m sure you’ve heard the saying “down the rabbit hole”. Well, that’s exactly what you are all about and the more you learn and improve, the more you are drawn into the myriad of possibilities with endless results. It’s engaging.

What benefits do you think learning chess has for people?

Playing chess has been proven to be extremely enjoyable and engaging, but also has many health benefits, including the development of social skills. Numerous studies have linked setbacks to maintaining healthy brain activity and, in some cases, preventing dementia.

Finally, what makes a good game of chess? What should people be looking for?

You should know that wooden chess sets are mostly made by hand and that the knights are carved by hand! Therefore, it is essential to study the intricacies of the sculptures and pay close attention to the materials used to create the whole. I would say a good chess set would have a good Staunton design, be weighted and preferably made from fine woods.

Thanks Carl for your time!

You can follow Carl Miceli at https://www.officialstaunton.com

Carmelo Miceli
The Official Staunton Chess Society
+44 1948 880060
sales@officialstaunton.com
Visit us on social media:
Facebook
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Other

A brief introduction to our company history, our values ​​and our amazing chess products.

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ASX reports more delays for its CHESS replacement key project https://forumfrei.net/asx-reports-more-delays-for-its-chess-replacement-key-project/ Mon, 28 Mar 2022 09:13:17 +0000 https://forumfrei.net/asx-reports-more-delays-for-its-chess-replacement-key-project/ Australia’s main exchange has reported more problems for a key project that has already been plagued by delays. Australia’s major stock exchange said a key technology upgrade originally planned a year ago will now be delayed until the second half of 2023. A month after announcing to investors that its planned replacement of the Clearinghouse […]]]>

Australia’s main exchange has reported more problems for a key project that has already been plagued by delays.

Australia’s major stock exchange said a key technology upgrade originally planned a year ago will now be delayed until the second half of 2023.

A month after announcing to investors that its planned replacement of the Clearinghouse Electronic Sub-Register System (CHESS) was on track for an April 2023 launch, ASX Ltd reported on Monday that its new data warehouse faced several additional months of delay.

The ASX uses CHESS to track the holdings and personal details of investors.

The beleaguered $250 million replacement project – designed to usurp a system that’s been in use for more than 25 years – was originally expected to be ready by April 2021.

Covid-19 setbacks and consultation in 2020 ultimately saw this date pushed back to April 2023.

From now on, it will be necessary to wait until July or August of this year so that the calendars of accreditation can begin.

“ASX advises that there is a high likelihood of a delay in the go-live date,” Group Director Tim Hogben said in an update Monday.

ASX Ltd chief executive Dominic Stevens said in early February that the company was on track to deliver the project before the latest setback.

This time, the market operator has challenged Digital Asset, the company developing what will be the first industrial-scale use of blockchain technology.

“The replacement of CHESS is an ongoing process with industry, and industry engagement will be even more important as we move into the CHESS user testing environment and operational readiness activities, and as we agree on an approach that ensures the utmost confidence in a safe, secure and high-performing system during commissioning,” said Hogben.

“We recognize the impact these changes will have on our customers’ programming activities and apologize for any inconvenience.”

This latest delay comes after a series of technology issues and outages at ASX Ltd over the past few years.

Two weeks ago, the $15.5 billion company apologized to investors after a hardware failure halted trading in various futures and options products ahead of key jobs data.

Regulators warned the ASX in November 2020 when a major software upgrade caused a crash and stopped people from buying and selling stocks for almost a full day.

The ASX enjoys a bit of a monopoly in Australia, but there are rivals including the smaller National Stock Exchange (NSX) and Chi-X Australia.

ASX Ltd, which is itself listed on the exchange it operates, traded down 0.5% to $80.07 in afternoon trading on Monday, as the tech sector in broad sense has dropped.

The company has lost about 15% of its value since hitting a stock price high of $95.83 at the end of 2021.

Originally published as Australia’s major stock market reports more delays for key blockchain project

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ASX Dismisses New Concern Over CHESS Oversight Amid Delivery Disaster https://forumfrei.net/asx-dismisses-new-concern-over-chess-oversight-amid-delivery-disaster/ Mon, 28 Mar 2022 07:00:00 +0000 https://forumfrei.net/asx-dismisses-new-concern-over-chess-oversight-amid-delivery-disaster/ New questions about high-level oversight of ASX’s stressed project come as market participants’ frustration boiled over on Monday following ASX’s confirmation The Australian Financial Review signal that there would be another delay in the new clearing and settlement system. Brokers are worried about rising costs as they consider delaying plans to integrate with the system […]]]>

New questions about high-level oversight of ASX’s stressed project come as market participants’ frustration boiled over on Monday following ASX’s confirmation The Australian Financial Review signal that there would be another delay in the new clearing and settlement system.

Brokers are worried about rising costs as they consider delaying plans to integrate with the system that records stock ownership.

The ASX said there was a “high likelihood” it would be forced to push back an April activation date next year. This came after a three-month delay in a software upgrade from its technology partner, Digital Asset, which was due to be delivered in April but will now only be received in July. This is supposed to fix various performance and functionality issues that ASX hasn’t been specific about.

ASX did not say when the new system, a private version of a distributed ledger shared among ASX participants, will go live. Stock market leaders expect the delay to be at least six months and likely 12 months – which would see it go live three years later than originally planned.

ASX CEO Dominic Stevens, who announced his retirement in February, flew to New York last week to meet with software developers from the CHESS project. Rhett Wyman

“It’s extremely boring,” said a senior executive at one of the nation’s largest brokerages. “There is not enough information. We don’t know the next steps. We are in a waiting pattern.

Judith Fox, CEO of the Stockbrokers and Investment Advisers Association, said that while the delay “creates more time to ensure testing is completed to everyone’s satisfaction, each delay means additional IT deployment and cost to our members”.

“This is particularly challenging for our members given other time calls from their IT teams, including meeting ASIC expectations of market participants in light of the November 2020 ASX outage. “, she added.

Amid ASX’s assurances that its underlying blockchain is “working well” in the “Industry 1 Testing Environment” (known as ITE1), some players say testing failed been as extensive as they would have liked, and it didn’t involve running the system at full capacity.

The Big Bang questioned

There are also widespread concerns in the market over ASX’s ‘big bang’ approach to switching to the new system over the weekend, as other markets like Singapore operated parallel systems for several years during their migration to a new clearing infrastructure.

Stockbrokers have complained about a range of additional issues, including complex new rules for data and messaging, which impact well-known workflows.

ASX declined to answer questions about the causes of the latest delay and told the market more information would be provided at a briefing on April 7.

“ASX underestimated the scale and complexity of this project and all stakeholders will be looking for more answers,” said Paul Williams, CEO of Automic Group, which developed registry services in the test environment. ASX.

“We are all now waiting for more information, and it is important that we get it, so that we can understand what the plan and the extension of the schedule are, and what this means for our business, our development plans and the restructuring of our pipeline.”

“We recognize the impact these changes will have on our customers’ programming activities and apologize for any inconvenience caused,” ASX said Monday.

ASX did not disclose project costs which are believed to be around $250 million. A brokerage industry source suggested that the rest of the industry would have spent between $100-150 million to prepare for the new CHESS and that this could increase by perhaps another $50 million as deadlines are getting longer.

The new delay has raised questions about the ability of ASX, which holds a virtual monopoly on stock markets, to complete such a massive IT project. The senior executive who oversees him, former deputy chief executive Peter Hiom, resigned from the ASX last year.

“You have a big company trying to implement a whole new infrastructure, blockchain, which is in its infancy. Large companies are generally not nimble and are not good allocators of capital when it comes to big projects like this. They are overwhelmed,” said John Winters, CEO of Superhero, a stock trading platform.

Dave Curran was announced as the new director of the ASX last week. The ASX says he has “a relevant agenda and technical background, hence his appeal to our board.” oscar colman

“They committed to this project and found they couldn’t deliver it on time and on budget. For some industry players, this will undermine trust.

The further delay comes just six weeks after ASX CEO Dominic Stevens assured the project was on track by announcing it would leave the exchange as soon as a replacement was found.

Some in the market are now wondering if the new CEO will come up with a plan B for the replacement of CHESS, which could see the Digital Asset project replaced with a ready-made system from Nasdaq, or another exchange. Some people close to the project, however, say ASX has gone too far to completely change course, given the amounts already invested in the industry.

Other brokers said the delay could make it harder for the ASX to encourage market participants to “take a node” on the new blockchain, which will allow ASX to sell them new data services, a core revenue growth strategy. But most brokers are expected, at least initially, to keep existing messaging techniques with the new system.

The ASX blockchain is a centralized, controlled version of the technology that restricts access to certain market participants. This is different from open and public blockchain systems where ledgers are available to everyone.

The new delay will increase pressure on the Australian Securities and Investments Commission to keep a close watch on the project, after a CHESS outage in late 2020 forced further scrutiny of ASX for its own. ensure that it meets its licensing requirements.

“ASIC is aware of the changes in workflows at ASX who are well aware of their responsibilities and the importance of this project,” an ASIC spokesperson said Monday.

“It’s important that they err on the side of caution, and if that means flagging a possible delay, that’s prudent and wise. There’s no point putting it online if it’s not ready, but how they handle it is ASX’s business.

Market sources pointed to other issues in the ITE1 test environment, including a lack of full functionality and long delays in fixing bugs and issues with the code. A particular complaint is that test data is deleted when ASX reinstalls new versions. Questions were also raised about the sequence of plans to be incorporated into the new system.

The delay will delay preparations for CHESS user testing and accreditation. ASX needs updated software before it can accredit users. ASX also said the software update delay would push “migration dress rehearsals” beyond October.

ASX said it will work with the market “to assess impacts on project milestones, industry testing, operational readiness and implementation, migration dress rehearsals, and go-live date. “.

“We remain committed to meeting industry and stakeholder expectations for implementing the new system in a way that appropriately balances efficiency and safety,” ASX said.

Using blockchain to upgrade CHESS was originally proposed by ASX CEO Elmer Funke Kupper in late 2015. ASX invested in Digital Asset in early 2016. The system was originally to be enabled in April last year.

When the coronavirus hit in March 2020, ASX said the initial start-up date of April 2021 would be delayed.

After a short consultation he said he would push it back a year to April 2022. Then in October last year he pushed it back to April 2023 saying the market needed more time to test the new technology.

Market participants raised numerous concerns over the details of the project as recently as last December.

The Australian Financial Markets Association is concerned about plans to cancel batch settlement notices and wants clarity on getting real-time deficit information before settlement closes. He also questioned indemnification provisions and key terminology changes at the end of the project.

Meanwhile, the Stockbrokers and Investment Advisers Association criticized changes to the operating rules requiring participants to take “all reasonable steps”, “as soon as reasonably possible” to obtain correct holder records, opening them up to possible sanctions in the event of non-compliance.

He also raised concerns about the creation of two different process flows between issuers and participants and proposed process changes for “bilateral on-demand messages” that will lead to a significant increase in canceled instructions by brokers.

Last week, ASX released an expert report to reassure regulators that the project was on the right track. EY, in a heavily redacted report, said the program was fit for purpose and no significant shortcomings were identified.

Automic’s Mr Williams said he had spent the money to train developers in DAML, the computer language facilitating the new technology, and would have been ready to launch, but “further delay means that we will have to restructure our development pipeline accordingly”.

“We have a team and resources focused on integrating with DLT and with that pushed further, we will need to reallocate resources to facilitate what the ASX does. It’s disappointing, from our point of view.

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Oxford beats Cambridge again in longest annual chess match https://forumfrei.net/oxford-beats-cambridge-again-in-longest-annual-chess-match/ Mon, 14 Mar 2022 07:00:00 +0000 https://forumfrei.net/oxford-beats-cambridge-again-in-longest-annual-chess-match/ Oxford beat Cambridge 4.5-3.5 last Saturday in the annual Varsity match. It was the 140th staging of the oldest continuous game in chess, first played in 1873 and interrupted only by the war years. Oxford have now won five of the last six matches, but Cambridge still lead the series 60-58 with 22 draws. The […]]]>

Oxford beat Cambridge 4.5-3.5 last Saturday in the annual Varsity match. It was the 140th staging of the oldest continuous game in chess, first played in 1873 and interrupted only by the war years. Oxford have now won five of the last six matches, but Cambridge still lead the series 60-58 with 22 draws.

The match was played at its traditional home for nearly half a century, the Royal Automobile Club in Pall Mall, London. Current and future grandmasters and international masters have often competed there. For many decades the game was a proving ground for potential members of England’s Olympic team, but in the past two decades it has become much more cosmopolitan.

Now the nationality pattern changes once again, as 12 of this year’s 16 players were British. Another interesting development is in their study subjects. Long ago, Oxford arts students met Cambridge mathematicians, as in 2022 numeracy dominates. Nine of the 16 read computer science or mathematics, four are scientists and only three are art students.

A player is already an established international. Akshaya Kalaiyalahan, from Oxford, was British champion at 12 and has already competed in two Olympiads. There could be more to come, and his polished victory was one of the best performances Match.

Puzzle 2461

Alexander Areshchenko vs Zbynek Hracek, Minsk 2017. Whito to move and win. It just seems that the puzzle of this week is a Ukrainian victory. More about winner Areshchenko in last week’s article.

Click here to resolve

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The ANC chess games are good… https://forumfrei.net/the-anc-chess-games-are-good/ Wed, 09 Mar 2022 17:48:38 +0000 https://forumfrei.net/the-anc-chess-games-are-good/ I have always maintained that South Africa only has a functioning government for two years out of the five prescribed by the Constitution, that is, the first two years. How? ‘Or’ What? After the general election and the installation of the new Cabinet, we have a year to “get used to portfolios” and generate policies. […]]]>

I have always maintained that South Africa only has a functioning government for two years out of the five prescribed by the Constitution, that is, the first two years. How? ‘Or’ What? After the general election and the installation of the new Cabinet, we have a year to “get used to portfolios” and generate policies. This is common in all portfolios, as ministers rarely continue where a predecessor left off. As a result, we always take two steps forward and one step back.

The second year is when office holders actually begin to deploy the programs devised by their advisors. But two years after the national elections, the country must organize local elections. This makes the second year of national government another lost year as parties begin to focus on the election campaign and, worse, the ruling party is tempted to use the machinery of government for its campaigns, from civil servants deployed to budgets.

The year following the local government ballot is the year the African National Congress prepares for its leadership change in anticipation of the upcoming national government leadership vote. This is the year we see all those desperate for positions on the ruling slate busying themselves with their campaigns ahead of the party’s National General Council and Elective Conference later in the year. Again, government functionality is being rolled out as those preparing the slates move around trying to position themselves. In this scenario, the South African electorate are simply what jurist Vuyani Ngalwana calls “sacrificial lambs on the altar of political expediency”.

After the ANC elective conference, you are likely to get a leadership change that will ripple through the direction of government. This is the period when South Africa twice experienced what I call ‘transitional leadership’. Such a transitional government is the child of factional ANC conferences. We saw it in Polokwane’s ousting of Thabo Mbeki as party president, and it was repeated in Nasrec’s ousting of Jacob Zuma. The action against them led to their removal as heads of state before the end of their legislative term.

Thus, for three out of the five years that each elected government is expected to serve, South Africa and its citizens and various machinery of government become pawns in the chessboard strategies of ruling party members strategizing for positions for themselves or to put their constituents in power. That moment has returned as the party prepares for a showdown at its elective conference later this year.

What history has taught ANC presidents since that landmark Polokwane conference is that survival is key. This knowledge must give current incumbent Cyril Ramaphosa sleepless nights. Axes have been grinding for him since he took the helm, and he presides over a divided house. It’s an uphill battle – his comrades have gone so far as to accuse him of being a stooge of white monopoly capital. It’s an image he must shed if he is to survive what happened to his predecessors – though he may take solace in the knowledge that they only fell in their second terms. To win, Ramaphosa has no choice but to resort to his own chess moves.

He’s pulled off a few grandmaster moves so far, to the frustration of some comrades and their slates who underestimated his mastery of the grand game of ANC chess.

First, he needed a decision that would get the kingmaker of the opposing clique, General Secretary Ace Magashule, out of House Luthuli in the desert. Magashule’s case in the Free State asbestos scandal will begin with a preliminary trial in June. Litigation having to be a media spectacle, it will undoubtedly drag on strategically usefully towards the conference, thus curbing its ambitions.

The second move that would destabilize Magashule’s power was to send someone with an ax to grind to lead a “unity and renewal” pow-wow with the Free State Interim Provincial Council (PIC). It will be recalled that former president Thabo Mbeki’s Polokwane ambitions were blindsided by the Premier League’s Magashule-led clique, which included North West’s Supra Mahumapelo as well as Mpumalanga’s David Mabuza.

Mbeki’s conversation with the PIC ended with a recommendation for members to re-enroll. The result drove the narrative that there is disunity in the province that can be traced to those who run it – and it came with a recommendation to get rid of the “thugs” who had penetrated the movement. The level of support Magashule enjoys during his court appearances will show whether Mbeki’s stint as a Ramaphosa Free State knight in shining armor has been effective.

Besides Magashule, there are other potential pieces aimed at the king’s head that need to be mastered. Let’s look at Lindiwe Sisulu’s recent attempt to start a quest for the highest position at Luthuli House. In its attempt to ride the wave of radical economic transformation rhetoric and position itself as a voice against white monopoly capital and its lackeys, Sisulu wrote an attack on the South African justice system, accusing some of its members to be captured and to have a “house nigger”. “mentality.

His ambitious play was cut short by a diagonal move from the bishop which saw Acting Chief Justice Raymond Zondo call a press conference to shoot down the minister’s bid for attention. Will the descendant of ANC royalty make a comeback? December, when the ANC normally holds its elective conference, is still months away.

David Mabuza, heir apparent to the presidency of the ANC and the post of number one citizen of the republic, seems to have survived the many lives he should have been able to secure as the crafty cat he is supposed to to be. It appears his decision to back Ramaphosa in Nasrec for which he was given the vice-presidential post – for both the ANC and the country – has not entirely worked out to his advantage. The man was overshadowed by his principal.

He was also most notable for his absence, from day one. He didn’t make his mark as head of government business in parliament – a role that could have positioned him well. His recent request to take over as head of Luthuli House, a move that may have worked to his advantage in helping him reconnect with his pal Magashule, was thwarted.

Ramaphosa was recently in Mabuza’s former stronghold, Mpumalanga, and using the power of the NEC, had the Provincial Executive Council dissolved. In what Ramaphosa could see as a coup, regional task force official Mandla Dlamini – who is also looking to position himself – threw his weight behind the president.

Is Mabuza likely to return in any capacity? If he still possesses one of the qualities that made him Mpumalanga’s most feared leader, perhaps he will. But as things stand, he has quietly become a pawn on the Thuma Mina slate.

So far, it seems Ramaphosa and his “CR24 Again” players have been smart tacticians on the black, green and gold board. The only missing piece is a big name to stand by his side. He will need someone who is revered inside and outside the ANC.

Ramaphosa will remember Mangaung where Jacob Zuma, facing criticism and media onslaught, needed a credible running partner. Ramaphosa himself has had his fair share of criticism and there have been calls to his head. From this comes the name of Jeff Thamsanqa Radebe. Being an ANC veteran, a government veteran as well as a trusted ANC political mastermind and tactician, the mention of Radebe’s name serves the Ramaphosa faction very well. Whether this reflects the agenda of the Fourth Estate – which has been accused of being an ally of Ramaphosa – or whether it is the wish of the movement, or even a decision of the Ramaphosa faction, for that we will have to wait for Radebe to declare his position. in this game of chess.

Jacob Zuma is said to be a great chess player. His strategy in his litany of cases has often been praised by his fanfare as a reflection of his understanding of the game.

Being at the head of the ANC requires knowing who are the ruthless knights, who are the defending bishops, who is the queen – the kingmaker next to you – and who are the sacrificial pawns? By the end of the year, the game will be clearer. DM

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