My opinion has always been that the ASX has been bought. Not one global, developed market, top tier exchange would behave this way.
The ASX should be embarrassed at this. Really, really embarrassing for a wanna be global marketplace. Not only do they not understand the business but in their attempt to look like global regulators, and a top tier marketplace, they have disclosed basically all ISX's IP to the market place. The only thing they haven't disclosed is the DNA of each individual director. How embarrassing.
This is why real market turnover in Aus is so small. Global Institutional investors stay away unless they have to be weighted due to index weights. The entire market is made up of prop books messing with each other (50%+ on any given day). Perhaps the ASX should focus on the big broker dealers who front-run all the overseas insto orders or manipulate domestic retail orders for a tick. Or build some internal tech to flush out market movements instead of employing a bunch of guys to google "why is X stock moving" (not joking here -they finally hired an engineer this year to automate this!).
ISX should re list overseas. They would be better served.
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
