Why did the Australian Securities Exchange (ASX:ASX) issue an updated market guidance?

The ASX updated its guidance to forecast a substantial increase in total expenses and capital expenditure (capex) for financial years 2027 and 2028. This spending surge is driven by technology modernisation and an expanded Accelerate Programme.

How much are expenses expected to grow for ASX (ASX:ASX) in FY27?

ASX expects FY27 total expenses to grow by 18% to 21% compared to FY26. Operating expense growth, which excludes depreciation and amortisation, is projected to increase by 13% to 16%.

What are the new capital expenditure forecasts for ASX (ASX:ASX) in FY27 and FY28?

ASX lifted its FY27 capex guidance to between $180 million and $200 million, up from its previous forecast of $160 million to $180 million.

Why is ASX (ASX:ASX) selling its stake in Sympli?

ASX is selling its 49% interest in Sympli to its joint venture partner, ATI Group, for a nominal amount to streamline its portfolio and stop ongoing operational drag. Sympli recorded a $4.4 million after-tax loss in the first half of FY26.

How will the updated guidance affect ASX (ASX:ASX) dividend payouts?

While ASX's formal dividend policy remains unchanged at a 75% to 85% payout ratio of underlying net profit after tax (NPAT), actual payouts will tighten.

What are the main bull and bear points for ASX (ASX:ASX) after this news?

The bull case is that ASX is finally addressing long-term underinvestment, upgrading critical market infrastructure, and eliminating an unprofitable joint venture in Sympli.

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ASX costs surge amid tech overhaul and divestment

Written by Brie CarterPublished May. 26 2026Last Updated May. 26 2026

The Australian Securities Exchange (ASX:ASX) updated its market guidance, forecasting a surge in expenses and capital expenditure as it accelerates technology modernisation.

The market operator revealed that FY27 total expenses are expected to grow by 18% to 21%.

Operating expense growth, excluding depreciation and amortisation, is pegged at 13% to 16% against FY26 figures.

Management attributed the rising costs to its expanded Accelerate Programme, implemented in direct response to the final ASIC Enquiry Panel Report, which previously highlighted historical underinvestment compared to global peers.

ASX has lifted its FY27 capital expenditure guidance to between $180 million and $200 million, up from the prior estimate of $160 million to $180 million.

FY28 capex is projected to land between $170 million and $190 million, driven by technology cost inflation and new product development.

Simultaneously, ASX announced it is streamlining its portfolio by selling its 49% interest in Sympli to joint venture partner ATI Group for a nominal amount.

While the exit will stem ongoing operational drag—Sympli recorded a $4.4 million after-tax loss in the first half of FY26—the divestment will trigger an immediate after-tax loss of approximately $12 million, to be recognised as a significant item in FY26.

Amid the heightened spending, ASX’s dividend policy remains unchanged at a 75% to 85% payout ratio of underlying NPAT, though dividends are expected to hit the bottom end of that range for the next two cycles.

At the time of reporting, the Australian Securities Exchange’s share price was $53.08.