ASX Still Failing to Meet Expectations in Some Key Areas, RBA Says

By Rhiannon Hoyle

The Reserve Bank of Australia said ASX continues to fall short of its expectations in several key areas, while acknowledging the progress the country's main stock-exchange operator has made as it overhauls its clearing and settlement systems.

Australia's central bank on Wednesday said that, in an annual assessment, one or more of ASX's clearing and settlement facilities had only "partly observed" standards on governance, comprehensive risk management, credit risk and operational risk. The facilities were rated as having "observed" or "broadly observed" many of the individual standards, the RBA said.

"This assessment highlights that, despite progress during the year, ASX is still not meeting the RBA's expectations in several important areas," said RBA Assistant Gov. Brad Jones. "The challenge now for ASX is to demonstrate that it can successfully deliver the transformation program without compromising the safe and reliable operation of its critical infrastructure."

ASX shares were down by 1.5% by late afternoon in Sydney.

The company has been rolling out transformation plans aimed at improving operational risk management and resilience. An inquiry into ASX by Australia's securities regulator that ended earlier this year found the stock-exchange operator compromised the resilience of critical market infrastructure due to its focus on rewarding shareholders.

ASX Chief Executive Officer Anthony Attia, who started in the role on Sept. 1, said the RBA's report "makes clear that there is more to do.

Our focus is on delivering the improvements we have committed to through our technology and transformation initiatives, and on continuing to rebuild trust through consistent execution," he said in a statement.

ASX on Monday appointed the former CEO of New Zealand's listed exchange operator NZX, Mark Peterson, to a new role of managing director of clearing and settlement, amid an executive reset.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

September 23, 2026 01:59 ET (05:59 GMT)