The way I see it, the ASX cannot continue the suspension 'due to a future Federal Court hearing'. I do intend to raise this issue with key 'others' as ASX is in a conflicting role in the ISX vs ASX matter i.e. the ASX are the subject of a court order and also the ASX is 'a self-appointed' regulator and a 'self-appointed' judge/jury of other ASX listed companies.
ASX do need to provide a reason to have instigated the suspension (no-one has been advised of the motives/their reason to date) and ASX do need to disclose their reasons why the suspension should continue.
They cannot use the Federal Court hearing as an excuse to continue the suspension of ISX shares.ASX's code of practice can be found here:
https://www.asx.com.au/cs/code-practice.htmDirect quote from ASX's code: "ASX’s core commitments under the Code of Practice include providing transparent and non-discriminatory pricing of and access to its CS services, protecting the confidential information of users, and establishing mechanisms for meaningful user input into the development of cash equity CS services."
Then there is this:
ASX customer charter - our commitment to our customershttps://www.asx.com.au/about/asx-customer-charter.htmDirect quote from ASX's publicly available website:
"We want our customers to succeed, grow and be profitable. The Customer Charter does not mean that we’ll always agree with our customers; we may adopt different positions when it comes to the best way to secure the future of Australia’s financial markets. But it is because differences may arise that we need to engage more, not less.
The ASX Customer Charter makes the following commitments. That ASX:
- Works with its customers to deliver products and services that meet their needs and that provide them with choice
- Supports Australia’s aspiration to be globally competitive and become one of the leading financial centres in the Asia Pacific region
- Makes its products and services available on a non-discriminatory basis and on reasonable commercial terms
- Manages its businesses and operations on a commercial basis to benefit its customers and provide appropriate returns to ASX shareholders
- Recognises its role as a provider of critical financial infrastructure to the Australian financial markets, and makes the necessary investments to ensure it can fulfil this role and provide confidence to market participants, investors and regulators
- Runs its operations in compliance with all legal and regulatory obligations
- Has conflict handling arrangements in place that provide assurance and transparency about the way ASX conducts its business."
