The Australian Securities Exchange (ASX) will be investigated by the national regulator following “repeated and serious failures”.
The Australian Securities & Investments Commission (ASIC) will focus on governance, capability and risk management frameworks and practices across the group.
ASIC Chair Joe Longo said the ASX played a critical role in Australia’s financial markets, with the Commission and the Reserve Bank of Australia having ongoing concerns over its ability to maintain stable, secure and resilient critical market infrastructure.
“ASX operates Australia’s critical markets infrastructure. Investors and market participants deserve to have absolute confidence that ASX is operating soundly, securely and effectively,” Mr Longo said.
“ASIC’s decision to initiate an Inquiry follows repeated and serious failures at ASX.”
He said ASX was ubiquitous and people could not buy and settle on the Australian public equities and futures markets without relying on ASX and its systems.
“The Inquiry provides an opportunity for ASX to bolster market trust.”
Mr Longo said while the inquiry was underway, it was critical ASX continued to prioritise the safe and efficient operation of its infrastructure, including progress towards Release 1 of the CHESS replacement project in mid-2026.
