Australian Securities Exchange

Stockmarket operator Australian Securities Exchange (ASX:ASX) have reported the results of company performance to shareholders.

• ASX Net Profit for the half $171.1 million, down 2.5 percent from $175.6 million in the previous corresponding period.
• Underlying profit down 5.3 percent to $171.1 million, from $180.7 million.

Australian stockmarket operator (ASX) have announced their full year profit results.

• ASX Ltd's net profit: $339.2 million, down 4 percent. (from $352.3m)
• Investor activity fallen from reduced risk appetite and uncertainty of impact of European debt crisis
• Operating Revenue: $610.4 million down 1.2 percent.
• Underlying profit: $346.2 million, down 2.9 percent
• Only the second time the company's profits have fallen since listing in 1998.

The Australian Securities Exchange (ASX) has been hit by another glitch again as the Australian stock market's Trade Acceptance Service rejected and stopped settling all trades made on its rival Chi-X Australia. The trade freeze lasted from 10 a.m. to 12 noon yesterday.

Australian stock market, Australian Securities Exchange (ASX:ASX) has resumed at 10am this morning after the technical glitch which halted the market at 2.48pm on Monday. The problem behind the abrupt closure of the market remains unsolved. A system status message posted on the ASX website announced that the initial problem occurred at 2.18pm.

Regulatory delays are facing the entry of Chi-X Australia an upcoming rival to Australian Securities Exchange (ASX:ASX). An earlier announcement of operations commencement by March this year by Chi-X could see delay as they wait for a timetable of competition guidelines set to be released by the Australian Securities and Investments Commission (ASIC).

Singapore Exchange Ltd (SGX) has announced that it has secured long term funding for a takeover bid for Australian Securities Exchange (ASX:ASX) to the value of US$3.7 billion. SGX has received commitments comprising two senior-term loan facilities worth 3.8 billion Singaporean dollars (about US$3 billion) and 750 million Australian dollars (about US$759 million).

There are fresh doubts over the SGX and Australian Securities Exchange (ASX:ASX) merger. Institutional investors have warned the government that the merger of stock exhcnages may compromise regulatory functions, such as compliance which includes checking listing rules and continuous full disclosure, functions which are operated by the ASX. Australian federal parliament has the final say, which must approve any single entity from owning any position more than 15 percent.

The Australian Competition and Consumer Commission, ACCC, Australia’s competition watchdog has questioned the $8.2 billion takeover bid by Singapore Exchange of Australian Securities Exchange (ASX:ASX) could hinder the entry of competing trading platforms into Australia.

Aussie stockmarket, Australian Securities Exchange (ASX:ASX) have announced a merger with the Singapore stock exchange (SGX) on Monday, igniting the share price, closing at $41.75, adding $6.79 or 19.4 percent higher after the trading halt. This merger is a foreign takeover of what is currently our monopoly equities and derivatives trading platform.