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Mr Elmer Funke Kupper, ASX Managing Director and CEO, said: “The first half of the financial year remained challenging as trading activity in equity markets continued to be near cyclical lows and well below the levels of the previous year. This led to a reduction in ASX Group revenue of 3.3%.
“Revenue performance varied significantly by quarter, with revenue down 8.8% in the first quarter and up 2.8% in the second quarter. The growth in the second quarter was driven by good performances in our Listings and Issuer Services, Derivatives, and Technical Services businesses. ASX’s diversified revenue profile continues to provide resilience.
“In the first half of the 2013 financial year ASX progressed several initiatives that will provide valuable new products and services to the Australian market. In December 2012 ASX announced that seven ASX clients will work with the company to develop an Australian-based service for clearing of over-the-counter (OTC) derivatives. And in parallel, ASX is developing a new collateral management service that will allow clients to reduce the cost of the collateral they have to lodge to support their financial market activities. These investments will give Australia a world-class financial infrastructure and help support its commitments to the G20.
“Substantial progress has been made in designing and implementing changes to the Australian regulatory environment, brought about by international responses to the global financial crisis and the fragmentation of the cash equities trading market in Australia. In November 2012 sensible controls around dark pools and high frequency trading were announced that should help support investor confidence in the equity market. Further measures are under review and ASX will continue to be an active participant in the review process.
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ASX Ltd Half-Year Result Analyst Presentation
ASX Ltd Half-Year Interim Dividend Announcement
Appendix 4D - Half-Year Report
