ASX chief executive and managing director Elmer Funke Kupper said the ASX recorded a “positive result”, positing a profit of $198.6 million, up 4.7 per cent from the previous period.
“The first half results were positive with revenue growth in each of ASX’s main businesses. Revenues grew 5.9 per cent to $348.7 million,” Mr Kupper said.
“Revenue ranged from 3.3 per cent in our derivatives business, which is our biggest business, up to 8.0 to 9.0 per cent in several of our other business including our listing business [and] information services [business]. These are good revenue numbers,” he said.
Mr Kupper also said it has implemented fee reductions in its electricity futures business, its interest rate futures and OTC clearing business.
“Together the fee changes are expected to impact revenues by approximately $17 million per annum, with a pre-tax impact of $4.6 million in the first half of [the 2015 financial year],” he said.
Mr Kupper also said the fee changes created a more sustainable derivatives business, which he said accounted for almost 30 per cent of ASX’s revenues.
“While it is too early to judge if the fee changes will stimulate greater use of ASX’s new OTC clearing services, it is encouraging that over the four months since the fee changes, OTC clearing values have been growing with $43 billion cleared in December 2014,” he said.
