The ASX is facing the ASIC regulatory headwind encountered by many companies / sectors over recent years, in this case a move which could see more brokers move to ChiX as ASIC clearly wants the market to enjoy execution alternatives. While the news is far from new it cannot be good for the ASX which is not cheap after bouncing 50% from its 2021 low, we simply...
Companies reporting today on MM’s radar include:
ASX (ASX) FY21 Results: Expectations for revenue of $941m, EBITDA of $681m, NPAT of $474m (down 7.6% on FY20), EPS of $2.45, FY Dividend $2.21. Market currently pricing NPAT for FY22 of $485m, a jump of ~2%.
The ASX has been a poor performer over the last 6-months with the stock sliding ~28% in a rising market. CBOE Global Markets, the 3rd largest exchange operator in the US, has now bought Chi-X the local competitor to the ASX in a move that should address regulators concerns .
Operator of Australia's primary national stock exchange
ASX Ltd is a demutualized company which operates Australia’s primary national stock exchange and equity derivatives market. The ASX operates markets for equities, derivatives, fixed-interest securities and capital-raising for unlisted companies using advanced computer systems for both trading and settlement.