Australian Stock Exchange (ASX) To Provide Last-traded Share prices And Company Announcements Free of Royalties On WWW.ASX.COM.AU

The Australian Stock Exchange (ASX) began providing last-traded share prices and company announcements free of royalties from Monday, 31 January 2000. This will provide all existing or potential shareholders with free, intra-day access to news and price data that influences the market. The decision has been taken so as to increase the community's access to information, broaden understanding of the sharemarket and take advantage of the rapid advance of the Internet in our daily lives. The share prices and company announcements, available on a 20-minute delay basis, will be easily accessible on the ASX website (www.asx.com.au). ASX research has revealed that more than half the nation's private investors now have access to the Internet. Proof of this recent phenomonen is evidenced by the fact that ASX's website is one of Australia's most popular, ranking in the top-ten most visited sites overall and in the top-five of business and finance sites. The shift to providing free intra-day access to share price and company announcement data is the first stage in a redesign of the website, which already contains an extensive amount of information on investment possibilities and methods, and will further enhance its role in informing and educating the community. The move brings the ASX into international best practice on delayed-data policy, placing it firmly within guidelines of both the Securities Industry Information Association (SIIA), and the Federation Internationale des Bourses de Valeurs (FIBV). In addition, ASX will be the only stock exchange in the world to offer comprehensive, free intra-day company announcements on its website. Recent qualitative research by ASX indicates that information on a 20-minute delayed basis is sufficient for most retail investors. Those requiring access to real-time data are able to obtain it through their stockbrokers' sites, or sites such as Excite or Quicken. ASX Market Data currently accounts for approximately 15% of total earnings. Although the introduction of free, intra-day prices and company announcements is expected to have a negative impact on this revenue, this likely to happen over a number of years. It is expected that the loss will be compensated by the growth in the number of terminals displaying ASX chargeable data and by increased share trading activity resulting from this free access to intra-day information. The ASX's internet site www.asx.com.au is one of Australia's most popular websites. It provides investors with a wealth of information about the Australian share market.