Highlights
- New ASX chief executive Anthony Attia pledged to respond with urgency to competition
- The failed Firmus float highlighted a dry spell in new listings
- Longer trading hours and tokenisation are among the options being considered
Financial Stocks are in focus asASX Ltd
, a constituent of ASX 50 and All Ordinaries indices, the operator of Australia's main securities exchange, has a new chief executive who has wasted little time warning that the exchange faces competition on multiple fronts. At his first annual meeting, Anthony Attia said ASX would need to respond with urgency, as the collapse of the planned Firmus float underlined how difficult it has become to attract major new listings.
A warning from the top
Mr Attia, who joined ASX from Euronext in September, told the AGM that developments offshore can quickly reshape the products and services competing in Australia, and that ASX must respond with urgency, according to Financial Standard. He said his focus would be to fix, grow and expand the business.
Chair David Clarke said ASX faces competition across the board and needs to respond much more actively than it has in the past, describing the exchange as having been...