Image source: © 2025 Krish Capital Pty. Ltd.

Highlight:

  • ASX expects to incur AUD 25 million to AUD 35 million in additional FY26 operating expenses related to the ASIC compliance inquiry.

  • Net new capital quoted in July 2025 reached AUD 6.6 billion, reversing a negative AUD 10.7 billion position from the previous year.

  • ASX shares declined 8.20% to AUD 64.52, their lowest level since April, following the revised cost guidance.

Shares of ASX Limited (ASX:ASX) declined by 8.20% to AUD 64.52 on Thursday, marking their lowest point since April 9. The drop followed the company's announcement of additional expected operating expenses in FY26, linked to the ongoing compliance assessment and inquiry initiated by the Australian Securities and Investments Commission (ASIC).

FY26 Operating Expense Guidance Updated to Include ASIC Inquiry Costs

ASX has completed its assessment of anticipated costs associated with the ASIC compliance assessment and inquiry. As a result, the company now expects to incur additional operating expenses ranging between AUD 25 million and AUD 35 million in FY26. These expenses are related to increased internal resourcing, the formation of a secretariat to manage the company's response, legal advisory fees, and other external and internal costs.

This estimate was not included in the company’s earlier guidance presented during its Investor Forum on 12 June 2025. ASX previously disclosed on 16 June that the inquiry had only recently been initiated at the time, and further evaluation was needed to determine cost implications.

Commenting on the update, ASX CEO and Managing Director Helen Lofthouse said, “We remain committed to our five-year strategy and are focused on our technology modernisation and uplifting operational risk management and resilience.”

FY25 Financial Results and Market Activity Update

ASX has confirmed it will release its full-year FY25 results on 14 August 2025. Meanwhile, the company also provided its Group Monthly Activity Report for July 2025, offering insight into recent performance across its core market functions.

Listings and Capital Raisings:

In July 2025, ASX recorded new capital quoted at AUD 7.7 billion, up from AUD 7.2 billion in the previous corresponding period (pcp). Entities that de-listed during the month had a combined market capitalisation of AUD 1.1 billion, compared to AUD 17.9 billion in the same period last year. As a result, net new capital quoted stood at AUD 6.6 billion, reversing the negative AUD 10.7 billion seen in the pcp.

Clearing – Exchange-Traded Markets:

As of 31 July 2025, participant margin balances held on ASX’s balance sheet totalled AUD 13.0 billion, slightly down from AUD 13.1 billion a year earlier. Margin balances subject to risk management haircuts reached AUD 9.6 billion, an increase from AUD 9.1 billion as of 31 July 2024.