presentation title2011 annual general meeting - asx · asx trade - latency • asx trade order...

Presentation Title 2011 Annual General Meeting

ASX Limited 22 September 2011 Sydney, Australia

Introduction

Address by the Chairman Mr David Gonski AC

Managing Director and CEO

Address by the Managing Director and CEO Mr Robert Elstone

Operating Revenue

• $450.4 million in FY06 to $617.6 million in FY11

• Absolute growth 37%

• Average annual growth 7%

• Revenue per FTE employee increased from $0.686 million in FY06 to $1.223 million in FY11

0

100

200

300

400

500

600

700

FY06 FY07 FY08 FY09 FY10 FY11

$ M

illio

ns

OPERATING REVENUE

Cash Operating Expenses

• $168.8 million in FY06 to $135.6 million in FY11

• Absolute reduction 20%

• Average annual reduction 4%

• CPI increase over the five-year period of 13.7% 110

115120125130135140145150155160165170175


$ M

illio

ns

CASH OPERATING EXPENSES

Underlying Net Profit After Tax

• $215 million in FY06 to $356.6 million in FY11

• FY11 cash earnings (EBITDA) the strongest in ASX's history, surpassing the FY08 peak prior to the GFC

• Underlying profit per FTE employee increased from $0.33 million in FY06 to $0.71 million in FY11

0

50

100

150

200

250

300

350

400


$ M

illio

ns

UNDERLYING NET PROFIT AFTER TAX

Dividend Per Share

• $198 million in FY06 to $321 million in FY11

• 70% uplift in dividends

• Maintained 90% dividend payout ratio of underlying NPAT (fully franked)

56.2 72.3

98.5 90.4 89.1 90.2

63.9

91.5 93.9

74.5 84.0 93.0

58.5

0.0

50.0

100.0

150.0

200.0

250.0


Cen

ts p

er s

hare

DIVIDEND PER SHARE

Capital Return Final Dividend Interim Dividend

Earnings Per Share

• FY11 EPS of 204 cents per share, 53% higher than FY06



0.0

25.0

50.0

75.0

100.0

125.0

150.0

175.0

200.0

225.0


Cen

ts p

er s

hare

EARNINGS PER SHARE

Capital Expenditure

• Total capital expenditure of $157 million since FY06

• Annual capex increased from $13.9 million in FY06 to $50.2 million in FY11

• Suite of new products delivered

• Core technology

platforms upgraded

0.0

10.0

20.0

30.0

40.0

50.0

60.0


$ M

illio

ns

CAPITAL EXPENDITURE

Listings

• Number of listed companies increased from 1,930 to 2,247, a 16% increase over the past five years

• Facilitated $74 billion of initial capital raising since FY06

• Facilitated $296 billion of secondary capital raisings since FY06

1,750

1,800

1,850

1,900

1,950

2,000

2,050

2,100

2,150

2,200

2,250

2,300

0

10

20

30

40

50

60

70

80

90

100


Num

ber o

f lis

ted

entit

ies

$ B

illio

ns

LISTINGS

Initial capital raised (LHS) Secondary capital raised (LHS)Total number of listed entities (RHS)

GFC impact

ASX Trade - Spreads

• Average equity bid-offer spreads have decreased 35%, from 0.62% to 0.40% since FY06 (based on weighted average of all companies listed on ASX)

0.30%0.33%0.36%0.39%0.42%0.45%0.48%0.51%0.54%0.57%0.60%0.63%0.66%


ASX TradeAVERAGE ANNUAL BID-OFFER SPREADS - EQUITIES

GFC impact

ASX Trade - Daily Average Trades

• Cash market daily average trades have grown from 125,000 to 570,000 over the five-year period (and in FY12 are more than 715,000)



050

100150200250300350400450500550600


Trad

es '0

00

ASX TradeDAILY AVERAGE CASH MARKET TRADES

ASX Trade – Fee Per Trade

• Cash market average fee per trade decreased from $3.25 to $0.93, a 71% decrease

$0.50$0.70$0.90$1.10$1.30$1.50$1.70$1.90$2.10$2.30$2.50$2.70$2.90$3.10$3.30$3.50


ASX TradeAVERAGE FEE PER TRADE - CASH MARKETS

ASX Trade - Capacity

• Cash market daily average trade capacity has increased 900%, from 0.5 million to 5 million

• Current daily average trades in FY12 are more than 715,000

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5


Trad

es -

Mill

ions

ASX TradeCAPACITY

ASX Trade - Latency

• ASX Trade order execution latency has improved from 70,000 microseconds to 300 microseconds

0.00.51.01.52.02.53.03.54.04.55.05.56.06.57.07.58.08.59.09.5

10.0


Mic

rose

cond

s '0

00

ASX TradeLATENCY

ASX Trade

SEATS 70,000 microseconds

ITS

ASX Trade – Fee Per Value Traded

• Cash market average fee per value traded has decreased from 1.04 basis points to 1.00 bps

• Headline trade execution fee reduced from 0.28 to 0.15 bps in FY11

0.75

0.80

0.85

0.90

0.95

1.00

1.05

1.10

1.15

1.20

1.25

1.30


Bas

is P

oint

s

ASX TradeAVERAGE FEE PER VALUE TRADED - CASH MARKETS

ASX Trade24 – Average Daily Contracts

• Futures and options average daily contracts traded have increased from around 283,000 in FY06 to 383,000 in FY11(and in FY12 are more than 470,000)



200

220

240

260

280

300

320

340

360

380

400

420


Num

ber o

f con

trac

ts '0

00

GFC

ASX Trade24FUTURES & OPTIONS AVERAGE DAILY CONTRACTS

ASX Trade24 - Latency/Capacity

• ASX Trade24 latency has improved from 85,000 microseconds to 2,000 microseconds

• Daily average capacity has increased from 70,000 to 230,000 trades

0

25

50

75

100

125

150

175

200

225

250

05

1015202530354045505560657075808590


Trad

es '0

00

Mic

rose

cond

s '0

00

ASX Trade24 LATENCY / CAPACITY

Latency (LHS) Daily capacity (RHS)

Managing Director and CEO

Address by the Managing Director and CEO Mr Robert Elstone

Agenda Item 1

ASX Financial Report

Agenda Item 2

Securities Exchanges Guarantee Corporation (SEGC) Financial Report

Agenda Item 3

Re-Election of Director Mr Russell Aboud

Re-Election of Russell Aboud This Resolution will be decided on a poll

For Against Open

Direct Votes 3.27% 2,903,679

0.65% 578,858

-

Proxy Votes 93.93% 83,503,266

0.42% 377,676

1.73% 1,540,461

Total 97.20% 86,406,945

1.07% 956,534

1.73% 1,540,461

Agenda Item 4

Remuneration Report

Remuneration Report This Resolution will be decided on a poll

For Against Open

Direct Votes 2.18% 1,898,840

1.42% 1,240,026

-

Proxy Votes 95.01% 82,857,499

1.00% 873,926

0.39% 340,850

Total 97.19% 84,756,339

2.42% 2,113,952

0.39% 340,850

Collection of Poll Cards

Please complete and submit your poll card

Presentation Title 2011 Annual General Meeting

ASX Limited 22 September 2011 Sydney, Australia

presentation title2011 annual general meeting - asx · asx trade - latency • asx trade order...

Documents