Hi Cappie. I agree that the financial impact in respect of...

Hi Cappie. I agree that the financial impact in respect of damages awarded to ISX may be immaterial to ASX but the reputational hit and impact on their market operators licence would be significant. The statement of claim alleges ASX breached the listing agreement, denied procedural fairness and exercised power unreasonably. This could see the ASX in breach of their Market Operators Licence and trigger a review or suspension of the licence.

See https://download.asic.gov.au/media/4720076/rg172-published-4-may-2018.pdf

and http://www8.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s792a.html

I think the possibility of this outcome would fit the materiality definition under Listing Rule 3.1.