Australia's ASIC initiates probe into bourse operator ASX
Reuters2 days
Regulators Launch Inquiry Into Australian Securities Exchange After Tech Failures
Above: Stock information at the Australian Securities Exchange (ASX) in Sydney, Australia, on May 5, 2025. Image copyright: Brendon Thorne/Bloomberg/Getty Images
The Spin
Narrative A
This inquiry is long overdue given ASX's track record of system failures and broken promises. The exchange has repeatedly let down investors with botched technology upgrades and operational outages that undermine confidence in Australia's financial markets. ASIC's action sends a clear message that critical infrastructure operators can't continue failing without consequences.
Narrative B
ASX deserves credit for acknowledging its shortcomings and implementing a comprehensive transformation strategy since 2023. The exchange is investing heavily in modernizing critical infrastructure while maintaining operations, which is no small feat. This inquiry provides an opportunity for independent validation of the progress being made.