Backlash against ASX fee rises.

Australasian Business Intelligence, May, 2003

May 14, 2003 (The Australian Financial Review - ABIX via COMTEX)

The Australian Stock Exchange's (ASX) determination to raise listing fees has been criticised by financial analysts. The ASX revealed on 13 May 2003 it would raise annual fees by 10 per cent on 1 July 2003, and fees for quotation of securities by 33 per cent in June 2003. Australian Institute of Company Directors CEO John Hall said the ASX should provide greater disclosure. Merrill Lynch estimated that two thirds of ASX's fees come from annual fees. Listing fees were 19 per cent of revenue. Macquarie Equities analyst Andrew Hokin estimated the rise would create $A4.3 million in revenue for 2004 and add $A3 million to ASX's net profit after tax.

Publication Date: 15 May 2003...

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