ASX Board: Time is right to merge with SGX

In a letter to shareholders primarily regarding dividend advice, the ASX board says that "current dynamic forces" create a favorable environment for a merger with the SGX.

"The ASX Board maintains a strong belief in the need to participate in global exchange consolidation and in the business logic of the announced combination with Singapore. The recent merger announcements by the London and Toronto exchanges as well as by NYSE Euronext and Deutsche Borse, underscore the dynamic forces driving developments among global exchanges. Importantly, ASX is also pursuing other business initiatives to ensure we have the right people, products and technology in place to continue to operate successfully in a much more complex regulatory environment."

The full letter can be downloaded as a PDF file from the ASX's website.

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