ASX says its recovery programme has reached a turning point after years of operational problems, including trading outages and delays surrounding the replacement of core settlement infrastructure. The exchange is retaining more earnings while funding technology and governance work.[1]
ASX funding and expense guidance
| Measure | Published position |
|---|---|
| Dividend payout | 75% of underlying net profit after tax, expected at least through FY27 interim |
| Additional capital commitment | A$150m by 30 June 2027 |
| FY27 total expense growth | 18–21% versus FY26 |
| FY27 operating expense growth excluding D&A | 13–16% versus FY26 |
| FY27 capital expenditure | A$180–200m |
| FY28 capital expenditure | A$170–190m |
The reduced payout ratio leaves more capital inside the company. That strengthens financial capacity but does not by itself demonstrate that trading, clearing or settlement systems are more reliable.[1]
Recovery funding
At the 22 October AGM, management reconfirmed 18–21% growth in total FY27 expenses. Excluding depreciation and amortisation, operating expenses are expected to rise 13–16%. The distinction matters because the two rates measure different cost bases.[2]
ASX has committed to build an additional A$150 million of capital by 30 June 2027. That capital requirement is separate from annual capital-expenditure guidance; it is not a pot earmarked for spending on the recovery programme.[2]
For brokers connected to ASX, the meaningful evidence will be service availability, incident recovery, testing results and the execution of replacement milestones. Management’s turning-point language describes progress; it is not a substitute for those operating measures.[1]
Sources & further reading
- Australia’s ASX says turning point reached after trading outages Reuters · 22 Oct 2026 · Accessed 22 Oct 2026
- Chair and CEO addresses at 2026 AGM ASX · Accessed 30 Oct 2026