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The ASX issued the following statement earlier today in response to speculation about ASX being involved in possible merger activity.
“In recent days ASX has observed a heightened level of trading volume and increase in the ASX share price and this has given rise to speculation in a commentary piece by John Durie in today’s Australian newspaper.
There are many factors that might have contributed to movements in the ASX Share price over the recent period.
By way of update, since the release of the August 2010 Annual Report (19 August 2010) there has been a strengthening trend in some key metrics of ASX market activity compared to the same period last year, in particular in relation to derivative trading volumes. For the first 12 weeks of the current financial year stock option trade activity has lifted (up 7%) and the futures market activity is showing signs of a strong recovery (up 36%_. Further commentary on activity trends will be made at tomorrow’s AGM.
As stated in the Managing Director and CEO’s Report included in ASX Limited’s 2010 Annual Report, exchange-traded markets are undergoing a period of profound structural change. ASX is conscientious in evaluating its strategic and competitive options in that environment and has had discussions with a small number of exchange groups regarding possible business combinations. None of these discussions has resulted in a disclosable transaction proposal.”
