ASX submits structural overhaul plan to ASIC

Market operator ASX (ASX:ASX) has submitted a comprehensive commitments plan to the Australian Securities and Investments Commission, outlining a major overhaul of its governance, leadership, and capital structure following a critical interim report from the regulator.

The plan aims to reposition the exchange operator as a trusted steward of Australia's financial infrastructure by implementing fully independent boards for its clearing and settlement businesses and establishing a dedicated division for these critical functions.

To bolster financial resilience, ASX is addressing a $150 million additional capital charge imposed by ASIC, partially by reducing its dividend payout ratio from 85% to 75%.

ASX Chairman David Clarke acknowledged that the company has not always met high standards, framing this submission as a critical inflection point to rebuild confidence through lasting structural change.

At the time of reporting, ASX's share price was $53.