APX Welcomes Approved Variations To Its Australian Market Licence And Rules

Asia Pacific Stock Exchange (APX) yesterday welcomed the announcement by the Minister for Financial Services & Superannuation, The Hon Bill Shorten MP, that new Market Integrity Rules for the APX market have been approved.

APX also welcomed the announcement by the Parliamentary Secretary to the Treasurer, Mr Bernie Ripoll MP, that variations to the APX Australian Market Operator Licence and new APX Business Rules, both of which are required to re-launch the APX market, had been approved.

Commenting on the approvals, APX Chairman Ray Schoer, said “These approvals are  important developments in our progress towards re-launching the APX market..  APX will provide an attractive new venue for corporates to raise capital and be publicly listed, and bring  competition, and new investors and corporates, in the listing and trading markets in Australia. ”

Mr George Wang, APX Deputy Chairman and Chairman of the AIMS Group said “We are very pleased with the Minister’s approvals today.  These new Market Integrity Rules place the APX market on an equal basis with ASX and Chi-X, and will provide the market with comfort about the quality of the APX market. APX is aiming to attract corporates, capital and investors from both Australia and Asia, especially China.  This new regulatory framework reinforces the strong reputation of the Australian market regulatory environment and will  further encourage companies to list and trade on the APX market.”

Mr Wang added, “We are looking forward to re-launching the APX market in the coming months.  We are focused on building an exciting new venue that will substantially deepen Australia’s links and integration with Asia, particularly capital flows between Australia and China, and the Australian financial services sector..”