ASX新任CEO Attia专访：呼吁澳交所加快现代化、对标港新，考虑缩短结算与延长交易时间

Australia risks losing more ground to major Asia Pacific financial centers unless its stock exchange upgrades its market and makes it easier for investors to access, according to ASX Ltd.’s new chief.

The exchange “needs to play its part in modernizing the market, simplifying the rules and benchmarking ourselves against Hong Kong or Singapore,” Chief Executive Officer Anthony Attia, who took the helm in September, said in an interview on Friday. “Those are very, very strong financial centers, and we need to be a very strong financial center too.”

Attia inherits an exchange under pressure to prove it can address market concerns. An Australian Securities and Investments Commission inquiry found longstanding shortcomings in ASX’s governance, capability and risk management following years of operational failures, while the Reserve Bank of Australia said last month the bourse was still falling short of expectations in several key areas.

The push to modernize ASX could center on faster settlement, longer trading hours and better services as it seeks to keep pace with overseas markets. The former Euronext NV executive will address shareholders Thursday at his first annual general meeting since taking the top job, offering a chance to outline his priorities.

Rivals appear to be moving faster on several fronts. Hong Kong Exchanges & Clearing Ltd. plans to shift to T+1 settlement in 2028, while Singapore Exchange Ltd. has an edge in offshore currency trading, iron ore and Asian equity-index derivatives.

Meanwhile, exchanges in the US, London and South Korea are extending trading hours, adding pressure on ASX to improve investor access.

ASX’s replacement for its cash-equities clearing and settlement system, known as CHESS, is currently set to retain a two-day settlement cycle even as the US and Canada have moved to T+1. ASX is discussing a faster shift with traders and investors, Attia said, while the CHESS upgrade remains targeted for 2029.

“It’s important that Australia is not left behind,” Attia said. “The discussions we’ve been having with market participants are not a question of whether we should do it or not. The question is when.”

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Getting the core projects back on track may give ASX a stronger foundation for growth after years of delays, technical failures and cost blowouts in the effort to replace CHESS. The exchange this year admitted making misleading statements that the original project was “progressing well.”

Attia said delivering those goals and addressing regulatory concerns will pave the way for attracting more offshore investors.

“I see opportunities all along the value chain of ASX on equities, fixed income, commodities, and servicing our clients better, but I think we need to earn the right to have that ambition,” Attia said.