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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  ASX Limited    ASX   AU000000ASX7

ASX LIMITED

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ASX : Australia's c.bank raises concerns over stock exchange's trading systems

11/20/2020 | 12:00am EST

Nov 20 (Reuters) - Australia's central bank voiced concerns on Friday over recent issues with the stock exchange's trading systems after nearly an entire session was lost earlier this week and as investors faced a number of other operational issues.

The payments system board of the Reserve Bank of Australia (RBA) said it would be looking into whether there were systematic underlying issues at those trading systems operated by the ASX Ltd.

"The Board is concerned about the recent operational issues affecting CHESS and ASX's trading systems," the RBA's payments board said in a statement after a meeting on Friday.

The ASX is planning to do away with CHESS, the computer system it uses to manage settlement of transactions, by 2023 and the payments board emphasised the need for the replacement system "as soon as this can safely be achieved by ASX and users of CHESS."

The ASX did not immediately respond to a Reuters email for comment.

Trading on the Australian stock market has been operating normally since the outage on Monday that was caused by a software issue with ASX's new equity market trading platform.

The outage, and subsequent issues with CHESS and Centre Point, the ASX's mid-point trade matching system, forced Australia's corporate regulator to also raise concerns this week over the ASX infrastructure and said it would look at taking further action over compliance with licence obligations.

(Reporting by Arpit Nayak and Nikhil Kurian Nainan in Bengaluru; Editing by Jacqueline Wong)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASX LIMITED -2.29% 70.84 End-of-day quote.-1.61%
S&P/ASX 200 0.00% 6715.4 Real-time Quote.1.95%
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Financials
Sales 2021 935 M 720 M 720 M
Net income 2021 482 M 371 M 371 M
Net cash 2021 13 631 M 10 499 M 10 499 M
P/E ratio 2021 28,4x
Yield 2021 3,14%
Capitalization 13 714 M 10 585 M 10 562 M
EV / Sales 2021 0,09x
EV / Sales 2022 -0,05x
Nbr of Employees 726
Free-Float 98,6%
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Mean consensus UNDERPERFORM
Number of Analysts 12
Average target price 71,62 AUD
Last Close Price 70,84 AUD
Spread / Highest target 14,3%
Spread / Average Target 1,11%
Spread / Lowest Target -16,7%
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Managers and Directors
NameTitle
Dominic J. Stevens Chief Executive Officer, Executive Director & MD
Roderick Holliday-Smith Independent Chairman
Timothy J. Hogben Chief Operating Officer
Gillian Larkins Chief Financial Officer
Dan Chesterman Chief Information Officer
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