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Round 2 ISX vs ASX, page-803

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JoeGambler

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29/11/20

14:01

Post #: 49219535
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Originally posted by goforit2: ↑

Is it ASX or is it a 'network'. It is hard to understand the logic of the ASX decision making process in regard to ISX. On the face of it it doesn't make sense so we are led to a question of motive. Out of that comes the concept of 'conflict of interest' to try and understand why they are behaving the way they are.

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Originally posted by itzgr82balive: ↑

Shareholders sent complaints to ASX about the performance shares in 2018. ASX should have investigated at that timeand certainly not a year and half later and then suspend the shares for almost 13 months (so far). The reason that the ASX waited until ISX was an ASX200 company and many investors and funds purchased shares in ISX should be investigated by ASIC.

There is a valid question whether ASX heard that ISX had been working with ASIC and APRA in advance to buying into NSX and creating the joint venture ClearPay to introduce settlements in the NSX, ASX did recognise there was a danger if another entity created the DLT real-time settlement system before ASX developed their CHESS replacement. As stated in the BOSS article, "The ASX believed that if it did not develop a blockchain option, another clearing provider, such as the London Clearing House or the London-based SETL, might. This could threaten the role of ASX in the future."¹

I agree that there is no chance that ISX will be released from suspension by ASIC prior to the court case. ASIC is bruised and battered at the moment and will not stick its neck out either to condemn or validate the ISX performance shares.

¹https://www.asx.com.au/documents/asx-news/high-stakes-afr-boss-article-140619.pdf

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And yet ISX tried to pursue this anti competition/ conflict of interest narrative with ASIC and it failed. ASIC refused ISX's request to administer it on the basis of those narratives. Either you and the company are wrong or its a big conspiracy.

ISX Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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Round 2 ISX vs ASX, page-803

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