ASX Response To Media Report

In response to the article on page 1 of the Australian Financial Review today, Australian Stock Exchange Limited (“ASX”) makes the following announcement.

As the market is aware, ASX is developing international alliances to ensure the integration of ASX into the global marketplace. Our half yearly report contains current information about ASX’s international initiatives. These are:

• The World Link project, which comprises the development of a co-trading facility with the Singapore Exchange and a one-way trading link to US markets; and
• Participation in the GEM (Global Equity Markets) discussions initiated by the New York Stock Exchange to establish a framework of multilateral linkages between nine participating exchanges, including the Stock Exchange of Hong Kong.

ASX has not entered into discussions concerning a merger with the Singapore Stock Exchange Limited or Hong Kong Stock Exchanges and Clearing Limited. While there may be cogent reasons for exchanges to merge, they give rise to complex cross border jurisdictional issues. High level talks between Australian, Singaporean and Hong Kong governments will be beneficial in relation to ASX’s aspirations to form alliances with exchanges in the Asia Pacific region.