ASX Limited Update

Submitted by Craig Strzelecki on 14 September, 2007 - 10:37

ASX Limited has a share price target of $52.80 and a Neutral recommendation from Australian stock market analyst UBS. Australian securities regulator ASIC has completed its initial consultation on licence applications from potential niche competitors AXE ECN and Liquidnet in late August. ASIC has announced that it will now publish a response document in October 2007 vs. expectations for a formal recommendation to the Federal Minister in mid-September. The need for clarity around the appropriate "rules for competition" may lead to substantial regulatory or policy changes. A Federal election also poses an obstacle, potentially deferring or interfering with a Ministerial decision. This implies that competition, if any, appears unlikely until into CY 2008. Tha analyst has recognised some issues to include: (1) relevance and prescription of pre and post trade transparency for 'internalised' order flow (2) downstream implications on supervisory/regulatory structure, including potential centralisation (3) relevance of overseas market structures and experience to the Australian marketplace. This is by no means a permanent outcome for ASX. However it will likely result in a more manageable and prescriptive shift in market structure, an incremental positive in our view. Read a previous ASX Limited Update.

ASX Limited is listed on the Australian Stock Exchange (ASX) under stock code ASX. You can view their investor website here. ASX was listed on the ASX on 14 October, 1998. Maurice Newman is the chairman of ASX while Robert George Elstone is the managing director. The company is the economic entity provides stock exchange and ancillary services in Australia. Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. You can use Instalment Warrants to trade ASX. Check your charts and good luck with your share trading!