This is getting really interestingThe ASX now finds itself in...

This is getting really interesting

The ASX now finds itself in exactly the position that ISX did a year and a half ago?

Is this current action material? Hard to tell what is and what isnt as you go day to day, then something hits you from out of nowhere.

Is this case material?

Well, if the ASX lose, no.

If ISX wins, then yes.

So, what to do? Hindsight will inform us perfectly, wont it Mr Kevin Lewis, ASX CCO? But if its on hindsight, then its a s674 problem straight away.

Well, according to the ASX, it should do the prudent thing and inform the market, and let the market decide.

Of course, the ASX hasn't. Its arrogant beyond belief.

Its directors are conflicted in different ways, from person holdings in competitors of ISX (ID8), to being directors of banks that compete in some way with ISX (but arent suspended for even greater transgressions than iSX), or to be directors of the ASX which owns Austraclear, which is the incumbent that ISX is seeking to displace.

So, if it loses, it will lose again on s674 continuous disclosure (lack thereof)

If the ACCC gets involved, then its an especially serious breach. Looks like the ASX has abused not only its position as market operator, but also its monopoly market power to suppress a competitor. Gold for ISX! Gold for s46 (ACCC)

On the first court case (I assume there will be more than one), If Datafin is applied to the ASX like it was to the NZSX, then its so very very material, it's a case of rewrite the ASX's operational, cost and administrative basis. Profits slide, process is subject to administrative law, the ASX becomes a privatised public service. Worst of both worlds.

The LSE and NZSX both thought Datafin wouldnt apply

Two exchanges, both common law jurisdictions, both have fallen to Datafin

Don't just get out the popcorn, order drinks and your Gold Class meals

This is going to be a ripper!

Edit - FYI - https://www.asx.com.au/documents/about/LR-3.1-Policy.pdf