Australian stock exchange targets 2029 for phase two of trading software overhaul

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Australian stock exchange targets 2029 for phase two of trading software overhaul - Channel News Asia

Quick Summary:

Australian bourse operator ASX said on Tuesday it is targeting to implement the second phase of its clearing and settlement software overhaul by 2029, with projected costs ranging between A$270 million ($175.61 million) and A$320 million.

FILE PHOTO: A board displaying stock prices is seen at the Australian Securities Exchange (ASX) in Sydney, Australia, February 9, 2018.

It added that it is continuing to work towards the delivery of the first release in 2026, with costs currently expected to be at the upper end of the previously estimated A$105 million to A$125 million range.