lol thanks, I hope this summary of the AFR article (that I cant post) is accurate* read at your own peril!Regulatory Inaction: ARNECC, the regulator, declared it can't force PEXA to open its systems to Sympli, halting progress towards competition.
Monopoly Maintenance: PEXA, backed by Commonwealth Bank, is trying to maintain its monopoly in property settlement services.
Sympli's Struggle: Sympli, backed by ASX, is a competitor aiming to enter the property settlement market dominated by PEXA.
PEXA's Origins: PEXA evolved from state-owned property settlement services, now with a market cap of $2.4 billion, and major shareholders including CBA and Morgan Stanley Infrastructure.
Interoperability Issues: Despite efforts, PEXA has not shared necessary information with Sympli, and ARNECC admits it can't enforce this.
Banking Industry Complaints: The Australian Banking Association has pointed out that PEXA's refusal to share information hampers competition, leading to potential transaction failures.
Financial Stakes: Sympli has incurred significant losses, and ASX values its stake at $22.2 million, while competition in the sector remains unresolved.
Economic Impact: Lack of competition in property settlement costs home buyers an estimated $300 million annually.
Government Stalemate: Federal and state governments are in disagreement over who should enforce competition, with no decisive action taken.
Need for Competition: Experts argue that competition would benefit consumers, with concerns about PEXA's opaque pricing and potential overcharging in a monopolized market.
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- Ann: PEXA Group Response to ARNECC Ministerial Forum
Ann: PEXA Group Response to ARNECC Ministerial Forum, page-46
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Last
$13.88 |
Change
-0.100(0.72%) |
Mkt cap ! $2.462B |
Open | High | Low | Value | Volume |
$13.96 | $13.97 | $13.81 | $2.425M | 174.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 965 | $13.81 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$13.89 | 800 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 290 | 13.800 |
1 | 500 | 13.670 |
1 | 300 | 13.500 |
1 | 175 | 13.450 |
1 | 720 | 13.430 |
Price($) | Vol. | No. |
---|---|---|
13.890 | 300 | 1 |
14.000 | 30 | 1 |
14.200 | 6864 | 2 |
14.250 | 90 | 1 |
14.330 | 320 | 1 |
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