RBA's Michele Bullock was warned about ASX tech troubles in 2021
Fresh insider claims suggest the ASX's tech problems were widely known inside and outside of the company - long before they were acknowledged by it and regulators.
A former ASX insider says he personally warned then-RBA assistant governor Michele Bullock about serious issues with the exchange operator's technology upgrade in 2021, almost one year before the company first admitted the project was in trouble.
Philip Galvin, a former senior manager at the ASX and Sydney Futures Exchange says in 2021 he picked up the phone to personally warn Michele Bullock about the ASX's bungled CHESS replacement program, long before the RBA and other regulators acknowledged the problem.
"I knew Michele from my time at the Sydney Futures Exchange so I took a punt and gave her a call," Galvin told Capital Brief. "I said, 'I believe CHESS is failing and I'm more than happy to go in and have a look for you to confirm this'."
"She thanked me for the call and said she'd raise it with her team," Galvin said, adding that he raised similar concerns with ASIC.
