Interesting race question for all. Who will get there first? ASX CHESS Replacement or ISX listing somewhere.
On the one hand we have ASX CHESS replacement, where options considered for the replacement started in 2015 and quoting the ASX Consultation Paper from April 2018 "The new system is currently estimated to commence operation somewhere between Q4 2020 and Q1 2021", but we are now told clearing replacement will be delivered in two phases with clearing to be rolled out first in 2026. Will we ever get the true picture on actual cost of the replacement from start to finish?
On the other hand we have the ISX saga, with a suspension from ASX Oct 2019, multiple legal delays, delisting and an exit to Greece, dropped case against ASX, a contested hearing now set for Aug 2024 and questions over where/when/if listing somewhere else. Again, the squandering of shareholder funds, questionable sponsorships.
And yet despite all this, ASX is still profitable and a virtual monopoly and ISX last report also indicates financial health. I scratch my head and ask "How?" So much is seriously wrong here. Bring on the court decision so we can either be put out of our misery, or get on with being a disrupter in the industry. Only the courts will decide what it's to be and as I'm already on record as saying - I will accept the decision made.
SP1 Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
