Sydney, June 9, 2026, 09:04 AEST
- ASX Limited shares finished at A$47.68 on Friday, up 1.53% ahead of the King’s Birthday market holiday on Monday.
- S&P/ASX 200 futures gained 23 points, or 0.27%, ahead of the Tuesday cash session.
- Up next isn’t just the open. ASX is heading into a June 15 court hearing tied to its failed CHESS replacement project.
ASX Limited (ASX.AX) was due back on the boards Tuesday after the long weekend, with investors watching for any reaction to the blow from its recent cost overhaul and a pending court battle over the failed CHESS rebuild. Shares ended Friday at A$47.68, up 1.53%. The cash market was shut Monday for King’s Birthday.
Tuesday’s reopen is set to be the first big test for investors after a tough stretch for the operator of Australia’s main exchange. ASX 200 futures added 23 points, or 0.27%, at 8:33 a.m. AEST as Wall Street held steady overnight.
ASX 200 drops as banks, miners slip; commodities stay volatile
The S&P/ASX 200 finished down about 0.7% at 8,625 on Friday, pulled lower by losses in banks and miners. Commodities stayed in focus after sharp moves in oil and metals earlier this week.
ASX Ltd is dealing with its own issues. The company told investors late last month that total expense growth for FY27 is expected at 18% to 21%. Capex is forecast to climb to between A$180 million and A$200 million. ASX also put FY28 capex at A$170 million to A$190 million.
The stock fell over 13% after the update, making it its biggest one-day drop since April 2000, according to Reuters. Greg Smith from Generate KiwiSaver said the “market is still scarred” by the first CHESS failure. Investors, he said, are looking for execution this time instead of more talk about strategy. Reuters
ASX said higher spending comes from upgrading tech, more regulatory costs and its Accelerate Program, which is part of its fix after getting called out by regulators. The company reported unaudited operating revenue for the financial year to April 30 at A$1.03 billion, a 12.5% rise, with strong volumes in interest-rate futures, cash trading, and clearing and settlement pushing the numbers up.
CHESS, the Clearing House Electronic Subregister System that handles share registry and settlement in Australia, is still in focus. ASIC says ASX gave misleading updates to the market in February 2022, calling the CHESS upgrade “on-track” and “progressing well”. ASX has filed its defence. The case is set for trial June 15. “This goes to the heart of trust” in market integrity, ASIC Chair Joe Longo said. ASIC
Court ruling blocks ASX bid for in-person testimony in ASIC trial A Federal Court decision late last week denied ASX’s request to have Digital Asset CEO Yuval Rooz testify in person, The Australian reported. Rooz will be cross-examined remotely in the ASIC trial. Digital Asset previously worked on CHESS replacement.
ASX said Anthony Attia, a former Euronext executive, will take over as managing director and chief executive from Sept. 1. Chair David Clarke said Attia brings “deep exchange experience.” Attia said ASX is at a “pivotal moment” in its transformation. Darren Yip is serving as interim CEO since Helen Lofthouse left.
ASX’s share decline isn’t mainly due to competition, but competition is still part of the picture. ASIC data showed ASX handled 81.9% of equity-market turnover in Australia in the March quarter, while Cboe Australia had 18.1%. ASIC approved Cboe’s listing-market application last year, letting it challenge ASX for new listings.
ASX could see a stronger index open, but that may not do much for the stock if investors stick to worries about costs, the pace of the courts, or new regulatory steps. More trading usually brings higher revenue, but there’s still the risk that expenses outpace any gains in trust, and the CHESS upgrade might yet hit another delay or cost.
ASX Ltd will get tested this week as traders look to see if Friday’s bounce sticks when the market opens again. Broader sentiment could shift too, with eyes on U.S. yields, oil and commodity moves. The key event is just over a week out—June 15, when the CHESS trial kicks off.
