Annual Report to Shareholders 2020
Sydney, Oct 19, 2020 AEST (ABN Newswire) - The NSX Ltd (
ASX:NSX), together with its wholly-owned subsidiary the National Stock Exchange of Australia Ltd ("NSXA"), has been augmented with experienced and seasoned professionals at the board, committee and senior management levels.
The NSXL Board has worked tirelessly to develop an integrated strategy that with the fruition of the ClearPay joint venture will position the NSXA as a viable alternative to the Australian Securities Exchange ("ASX"), for start-ups and emerging companies across a myriad of sectors, including technology, retail, mining, and agriculture.
This last year has seen the beginning of a transformation for NSX Limited in terms of resetting its strategy, and the commitment to adopt a "technology first" approach.
Our strategy is well underway with current business initiatives including:
- The development of a platform, that initially leverages the existing ASX infrastructure via the Trade Acceptance Service ("TAS");
- Delivering the ClearPay joint venture to provide additional business opportunities for NSXL;
- Strengthening the management team and appointing business development managers.
- NSXA management encouraging:
o New issuers via IPO, and existing ASX micro-cap listed issuers to "fast track" switch to the NSXA
o New Participants, and extend NSXA retail distribution via enhancing our technology and feeds
- NSXA management extending for qualified entities in Asia Pacific, for:
o The Nominated Adviser network, and
o The Participant network
- Continuing to refine the platform, and develop our own Delivery versus Payment ("DvP") platform, eventually removing the NSXA's reliance upon ASX owned infrastructure; and
- Providing a market for new classes of digital and digitised products via the new platform.
- The DvP Platform will allow for assets to be digitised real world assets such as securities (book entry), futures, CFD's, fungible digital assets and non-fungible digital assets, with NSXL as the central authority.
TAS Project - making trading fully automated: The TAS project will allow market transactions executed through NSXA to be eligible for registration and novation in accordance with the operating rules of ASX Clear with effect from the time of trade execution (that is, immediately after matching of bids and offers on the trading platform). This is the same basis on which trades executed on ASX's and Chi-X's markets are registered and ovated by ASX Clear.
TAS represents the first significant technology upgrade to the NSXA in many years. It brings post-trade automation to the back office utilising existing ASX infrastructure, allowing the NSXA to drive revenues, whilst in parallel the ClearPay JV develops our own solution for a broader range of products and services.
The TAS Project is on track to launch late 2020 and is awaiting only rule acceptance by the regulators in order to go live.
In order to achieve our strategic goals, people will be key to our success. I'm pleased we are supported by a dedicated group of staff who have adapted to the changing environment that we find ourselves in.
This coming year will be transformative for the NSXL and our subsidiary, the NSXA, as we start to realise the opportunities in front of us, and to provide competition in Australia's cash equities market.
To view the Annual Report, please visit:
https://abnnewswire.net/lnk/1872082O
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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