SP1 0.00% $1.07 southern cross payments ltd

ISX vs ASX, page-954

  1. 2,655 Posts.
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    This really one for 'ChillingOut' or a commercial litigation lawyer.
    It occurs to me that the pressure may be on for the ASX suspension on ISX to be lifted before the two year anniversary of the suspension at the end of September 2021.
    To not lift suspension may require ISX to go through the whole re-listing process, including fees, possibly a propectus, legal and expert reports etc.
    If ISX has a strong case that the ASX has acted 'unfairly', then this cost might have to be met by the ASX.
    If ISX wins its case for 'unfair treatment' might not the ASX be exposed to a class action from ISX shareholders for and losses (of value) sustained by ISX shareholders, including the Board and JK?
    Also a loss of the case by the ASX could call into question its monopoly exchange lines. This comes on the heals of the recent report this month on the investigation into the ASX software failures which caused several days where no stocks could be traded on the ASX platform.
    Maybe at the top of the ASX, they want out of the ISX mess of their creation (the suspension) rather than let the 'sore fester' further.
    This could add weight to the Federal Government opening up Australian trading to ChiX which is now owned by disallowed of Singapore. Remember, the Singapore Exchange sounded out but was rebuffed about buying the ASX about 3-4 years ago. A lot has happened since. Maybe the Federal Government might want to inject some competition by allowing ChiX to use a different settlement platform.

 
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