ASX announces that it is exercising its right to purchase further equity in the US-based firm Digital Asset Holdings, LLC (Digital Asset). ASX is investing US$7,157,065 which increases ASX's holding in Digital Asset to approximately 8.5%.
ASX will appoint a representative to the board of Digital Asset as it increases its holding.
ASX and Digital Asset have also entered into a commercial agreement appointing Digital Asset as ASX's preferred partner to continue to develop a distributed ledger technology solution to address the post-trade needs of the Australian cash equities market.
Strong businesses anchored in attractive financial market
•Strong market fundamentals
•Diversified business, multi-asset class and vertically integrated exchange
•World-class regulations –trading, clearing, financial market infrastructure supporting end investors
•Strong financial position: AA-credit rating from Standard & Poor's
Positive financial performance for 9 months to 31 March 2016
•Underlying profit after tax A$317.4 million, up 5.9%
•Revenue growth 7.0%, supported by robust trading activity
New listings for the month were Afterpay Holdings Limited (AFY), Crusade ABS Series 2016-1 Trust (CU1), Driver Australia Three Trust (DAE), Medallion Trust Series 2015-2 (MZC), PUMA Series 2015-3 (PUV), Redbubble Limited (RBL), Shark Mitigation Systems Ltd (SM8), SMART ABS Series 2015-2 Trust (SMT), Tegel Group Holdings Limited (TGH) and WAM Leaders Limited (WLE).
De-listings for the month were APOLLO Series 2007-1E Trust (AOY), Colorpak Limited (CKL), Mongolian Resource Corporation Ltd (MUB), New Zealand Oil & Gas Limited (NZO), Phillips River Mining Limited (PRH), PUMA Masterfund S-7 (PUS), Recall Holdings Limited (REC), Scentre Group Trust 1, Scentre Group Trust 2 (SCA) and Vicinity Centres Trust (VCD).
The value of ASX-listed stocks, as measured by the All Ordinaries Index, rose 2.5% in May 2016. This performance was comparable to some major markets including Japan up 3.4%, and Germany up 2.2%. The US was up 1.5%, while the UK was down 0.2%, Hong Kong down 1.2%, and Singapore down 1.7%.
Volatility measures for the Australian equity market remained above long-term averages during May:
• Volatility (as measured by the average daily movement in the All Ordinaries Index) was 0.6% in May, down on the previous month (0.7%).
• Expected future volatility (as measured by the S&P/ASX 200 VIX) rose in May to an average of 17.6 (compared to 17.4 in April).