Suggestions the Australian Securities Exchange (ASX) is poised to make a takeover bid for Iress Market Technology has been dismissed by the firm's managing director.
"This has been speculated on before. The ASX has not approached us on that in any recent time," Iress Market Technology managing director Peter Dunai told InvestorDaily.
When asked whether a potential takeover offer from the ASX would be beneficial for the listed financial services firm, Dunai again dismissed suggestions the firm had been approached.
"We haven't reached a point of even considering such a thing. We haven't been approached," he said.
"I think it's considered market speculation that has been aired before and from our point of view there is no substance that I could advise you on at all."
Market speculation over a further transaction between both parties intensified following a report in The Australian Financial Review yesterday.
The report suggested the ASX would be in a good position to make a bid for Iress as the firm commenced plans to provide stockbrokers with a tool to watch prices over a number of stock exchange platforms at the one time.
"The ASX has had a longstanding investment in Iress since 2000 and currently holds 19.2 per cent," an ASX spokesperson said.
"It has been a well-performing investment and the ASX is currently satisfied with its holding. If the ASX has anything further to announce with Iress, it will."
