ASX chief executive Elmer Funke Kupper said operating revenue rose by eight per cent or $329.3 million, with all ASX business lines increasing revenue on a year-on-year basis for the first time since the global financial crisis.
“The biggest contributors in dollar terms were our listings business, up $7.9 million (10.7 per cent), and that’s on the back of a very strong IPO market in the first half, and of course our derivatives business which had a growth of 5.9 per cent and contributed $5.4 million,” said Mr Kupper.
He also said the $18.6 million in capital expenditure in the first half was in line with the ASX’s investment program which aims to further develop “post-trade services and risk management infrastructure”.
“By mid-2014, ASX will complete its initial investment program, adding a full client clearing solution that will give Australian investors further risk management protections, and a collateral management service that will provide attractive savings to market participants,” he said.
“We will work with our clients to plan the next round of investments necessary to maintain Australian’s position as an attractive and globally-competitive financial market.”
The ASX has is also in the process of developing other new products and services for the Australian market.
“We launched several new derivatives products during the half and recently received regulatory approval for ASX’s new manager funds service, mFund,” he said.
According to the ASX, the mFund settlement service will enable the direct purchase and sale of units in selected unlisted managed funds with the mFund issuer through a stockbroker or advisory service.
The service uses the CHESS system, which automates and tracks the buying and selling process and removes the need to complete paper application forms.
Mr Kupper said the ASX will generate revenue from the service by charging a similar fee applying to listed products and transaction fees also.
