“We’ve got very rich data at ASX on the debt markets and the bond markets and getting more of that packaged up appropriately to be able to give the marker more visibility on that is something I think is very important."įor fiscal 2023, ASX’s net profit fell 38% to A$317.3 million partly due to the impact of significant items, including those associated with its Clearing House Electronic Subregister System. “When we talk about structural tailwinds for ASX, that’s a key one because we have a lot of high-quality data," she said. For fiscal 2023, ASX’s technology and data division recorded an 8.5% on-year expansion in revenue to A$240.8 million, driven in part by growing demand for equities and futures market data.ĭata, Lofthouse said, is an important opportunity for ASX. In relation to the potential recovery of the IPO market, Lofthouse said ASX is particularly focused on the technology sector, but that there are a “number of sectors that we see represented in the pipeline."ĪSX also sees data as a strong business opportunity, as it can offer the sort of quality market information that is in demand among companies. At the same time, the market cap of new listings sat at A$2.5 billion compared with A$58.9 billion the year before, a 96% drop.Īnnual listing revenue was affected by fewer listing and the delisting of some larger companies, said ASX. So, we see a really solid pipeline of corporates who are interested in listing on the ASX…really it’s a question of confidence and conditions," she said.įor fiscal 2023, overall listings revenue grew 2.2% on year to A$218.6 million, but there was a 74% slide in new listings, which fell to 57 from 217 in fiscal 2022. “I think they’ll also help drive some recovery in the IPO market. “With some easing inflation and with it growing confidence coming around where interest rates may peak, we think that those two things are really important factors that…should be positive for the cash market," Lofthouse told The Wall Street Journal on Thursday. In the U.S., despite a recent flurry of activity, 2023 remains a slow year for IPOs, as higher inflation and interest rates bite.īut ASX said IPO activity has the potential to start recovering amid more favorable market conditions, subject to the unfolding of geopolitical events. In line with global trends, the market for initial public offerings in Australia has also come under pressure. For fiscal 2023, markets revenue fell 2.1% to A$292.4 million when compared with the year before. Helen Lofthouse, ASX’s chief executive, said fiscal 2023 has been a challenging year for equities markets, which weakened as investors redirected some funds away from cash equities into other asset classes. Growth in listings revenue and demand for information and technical services were offset partly by weaker equity trading activity. ASX on Thursday reported its results for the 12 months through June, which included a 1.2% fall in operating revenue to 1.01 billion Australian dollars (US$648.7 million) compared with the previous year.
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