Australian stock exchange targets 2029 for Phase 2 of trading software overhaul

Quick Summary:

:Australian bourse operator ASX said on Tuesday it aimed 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.

The regulator is seeking an unspecified fine and the company has filed its defense in the proceedings.

The company's shares fell as much as 4 per cent by 0006 GMT, making ASX one of the top losers in the benchmark index, which was down 0.3 per cent.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustralia

Topics: Exchange Software Australian Costs Operator Securities Overhaul Settlement Million Clearing Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 06:15:03 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 363 words

Reading Time: 3 minutes read

Sentences: 12 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23881151

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 43 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 39 minutes ago

Coverage Areas: Singapore

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Publisher ID: #27

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