Preliminary Final Report
Sydney, Aug 31, 2020 AEST (ABN Newswire) - NSX Ltd (
ASX:NSX) reported total Revenue of $1.9 million representing a decrease of $0.5 million on the previous comparative period (pcp).
This reflects the impact of the continued focus of the National Stock Exchange of Australia towards better quality listings through the implementation of new and revised listing suitability standards and less revenue from new listings in the current period.
Evidence of this can be seen with 5 companies delisted, either voluntarily or by non compliance with NSX listing rules during the year. While the value of this clean-up to NSXA is evident, this period of change will inevitably have a short-term impact on revenue until the NSXA's new marketing and business development initiatives start to show results.
Expenditure was incurred on large projects such as the implementation of rule changes to support the Trade Acceptance Service (TAS) for clearing of securities and the expenditure required to support the technology for TAS.
In addition, was the initialisation of the ClearPay JV venture and project work started by contractors in line with the proposed alternative settlement and clearing infrastructure.
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About NSX Limited
NSX Limited (ASX:NSX) via its wholly owned subsidiary National Stock Exchange of Australia Limited (NSXA) operates the Tier 1 Licensed stock exchange facility for the listing of equity securities, corporate debt and investment scheme units. The company is also involved in trading and settlement activities.
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