This article appeared in the December 2011 edition of the Listed @ ASX newsletter.
A streamlined system that better links ASX-listed entities to information users will help ASX deliver a more efficient and timely information service.
ASX wants to improve the capture and delivery of corporate information from listed entities by streamlining the lodgement of corporate-action announcements.
Simply put, the proposed change will provide a straight-through electronic solution from the listed entity to the information user, in turn helping ASX deliver a more efficient, accurate, consistent and timely information service.
• This video by Eloise Wett, ASX General Manager, Business Planning and Interactive Services, explains the proposed change and more information is available here.
• This flow chart provides a high-level view and explanation of the proposed process.
This important initiative will affect ASX-listed entities, financial intermediaries, institutional and retail investors, and other information providers and users. It will also affect how more than 110,000 announcements each year are lodged and distributed to market participants.
Listed entities will find it easier to lodge corporate-action announcements and end-users will receive this information faster. This diagram shows the main benefits to different stakeholders:
The proposal is part of ASX’s broader strategy to improve data and digital efficiencies, and provide world-class information services.
ASX is eager to involve industry participants on this proposal and ensure all stakeholders benefit. ASX will form a small working group of industry representatives and give all stakeholders an opportunity to comment through an industry-wide consultation process.
More information on the working group and consultation process will be provided in due course. The proposal is currently at an early stage.
Information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions. Although ASX Limited ABN 98 008 624 691 and its related bodies corporate (‘ASX’) has made every effort to ensure the accuracy of the information as at the date of publication, ASX does not give any warranty or representation as to the accuracy, reliability or completeness of the information. To the extent permitted by law, ASX and its employees, officers and contractors shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from any one acting or refraining to act in reliance on this information. This document is not a substitute for the Operating Rules of the relevant ASX entity and in the case of any inconsistency, the Operating Rules prevail.
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