Bourse operator ASX shares sink on ASIC inquiry costs, TPG error
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More news: Sharemarket operator ASX was the worst performer in morning trade, diving 8.5% to $64.32 at 11am AEST.
The company said this morning that it expects additional operating costs of up to $35 million in FY26 due to ASIC's recently announced inquiry into the company.
The selloff also comes after an error by ASX on Wednesday temporarily wiped over $400 million from TPG Telecom's share price.
ASX expects added costs of up to $35m in FY26 due to ASIC inquiry
The news: The Australian Securities Exchange (ASX) said it expects to incur additional operating expenses of between $25 million and $35 million in the 2026 financial year, after the securities regulator launched an inquiry into the bourse operator in June.
The context: ASX said the inquiry by the Australian Securities and Investments Commission (ASIC) will increase resourcing, including the establishment of a secretariat to manage the company's response, as well as legal costs.
ASIC's inquiry will cover governance, capability and risk management frameworks, and practices at ASX. The regulator said it will make recommendations to address any shortcomings or deficiencies, culminating in a public report of the outcome.
The inquiry follows repeated failures at the ASX regarding its clearing and settlement facilities and its bungled CHESS replacement project.
The source: ASX
