Neither Cboe nor ASX would comment on Wednesday night.
The prospect of more competition for the ASX comes as the market operator faces pressure from regulators after the high-profile failure of a major technology upgrade, known as the CHESS replacement project.
Big investors were left frustrated after the project, announced in 2016, was repeatedly disrupted, before finally being cancelled in 2022.
Treasurer Jim Chalmers said: “Making our markets more competitive will make our economy more prosperous and productive.”Credit: Alex Ellinghausen
ASIC took the ASX to court last year, claiming it had made allegedly misleading statements in relation to the replacement of its clearing and settlement system, the Clearing House Electronic Subregister System (CHESS).
The investor roundtable on Wednesday came as the ASX also made an embarrassing error, when it incorrectly processed an announcement from Infomedia, saying it had been bought by a private equity firm, TPG Capital Asia.
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The telco TPG, a different company to the private equity firm, was wrongly cross-referenced in the announcement, sparking a fall in TPG shares before trading was paused. ASX cancelled all trades made in TPG shares between the error and when trading was paused.
“This issue arose from an inadvertent human error and I recognise that it has caused disruption for TPG Telecom and its investors,” said ASX group executive for markets and listings Darren Yip.
“This mistake shouldn’t have happened, and we are reviewing our internal processes to understand if there are additional safeguards or procedures we could implement to reduce the risk of a similar reoccurrence.”
