ASIAN EXCHANGES FIND THEIR COMPETITIVE EDGE

摘要

Home to four of the world's largest stock exchanges by market capitalisation, Asia-Pacific is a hotbed of competition for the most attractive companies. From lucrative tech start-ups, both homegrown and foreign, to megabrands looking to list for the first time, these exchanges know they have to offer something unique to attract the big listings. Recognising that simply having the biggest investor pool may no longer be enough to attract listings, stock exchanges across the region have been adapting their criteria to suit the changing needs of these companies, and the additional investors they may bring. The Australian Securities Exchange (ASX) has made headlines most recently for its plans to move to distributed ledger technology (DLT) rather than its blockbuster listings. The ASX has been using the Clearing House Electronic Subregister System, which allows for the switch from shares in a physical format to an electronic one, for the past 25 years. Now it has taken the bold step of adopting DLT, with the goal of being fully operational by March 2021.