An unnamed politician was quoted in the AFR this morning saying that it would be a ‘matter of concern’ if ASX merged with SGX because the electorate would need to be sure that Australian investors would not be worse off.
How can we be worse off than the current situation?
The ASX charges The Intelligent Investor $16,000 per year for ‘data fees’. We pay another company, Bourse Data, for the feeds but the ASX hits us with another $16,000 for the privilege of publishing their stock prices (20 minutes delayed mind you – if we want live data we would have to pay more).
How can it charge such a ridiculous amount for something which surely should be publicly available? Well, it is a rapacious monopoly protected by legislation.
The government should forget about all this national interest garbage and get on with introducing competition to the market. That would be something of real benefit to investors.
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