Page 12 - Max Cunningham News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A flood of companies listing in other jurisdictions through special purpose acquisition companies has made the  Australian Securities Exchange sit up and take notice.

ASX outage to trigger market shake-up Save Share The stockmarket’s snap trading shutdown last year has forced financial regulators to develop plans to inject more competition against the Australian Securities Exchange and move to compel stockbrokers to connect to its competitor Chi-X. The Council of Financial Regulators had been investigating how to make competition with the ASX more effective, government officials said, after a software glitch caused the exchange to lock up thousands of buy and sell orders in November. The ASX enjoys a near monopoly on stock exchange trading and clearin...

Share "It's always best not to try too hard and if the market is not receptive to an IPO walk away," says Regal Funds Management's Phil King, explaining why it was right to pull the planned ASX listing of oyster producer East33 this week. Regal is an investor in the Sydney rock oyster business, which was raising $32 million to consolidate leases and push into live exports to Asia. But even the promise of directors buying extra shares failed to offset the combination of strained relations with China, uncertainty about the restaurant trade and some minor queries from the securities regulator.