Post trade boosts ASX revenues

The Australian Securities Exchange’s (ASX) full-year report reveals post-trade made a major boost to overall revenues, rising 11%.

ASX attributed the positive results in Equity post-trade services to increased overall market activity.

Full-year earnings to June 30 2016 saw equity post-trade services revenue reach AU$102.0 million up from AU$91.8 a year ago. Cash market clearing revenue was at AU$54.1 million, while settlement revenue was at AU$47.9 million.

ASX introduced T+2 settlement this past year which, it said, prompted a reduction by up to 30% for cash market margins.

ASX also experienced a 4.7% increase to derivatives and OTC markets sales. This increase brought revenue for derivatives and OTC markets to AU$265.8 million, making up 36% of total group revenue.

Futures and OTC clearing revenue was up 6.9% and Austraclear revenue was up 1.5%; however, ASX did see a 6% drop to Equity Options revenue, which included single stock and index options.

Overall, ASX group saw a 6.5% increase to operating revenue, which totaled at AU$746.3 million for their 2016 fiscal year. Profits after tax increased 5.6% to AU$426.2 million.