ASX

A few good things have happened for ASX since our three-part series in November, culminating in ASX: Competition cuts in – Pt 3 on 28 Nov 12 (Long Term Buy – $29.32). The most obvious development has been the bid for NYSE Euronext by IntercontinentalExchange (also known as ICE). This has highlighted the attractions of securities exchanges, particularly derivatives exchanges, with Liffe (formerly the London International Financial Futures and Options Exchange) being the main target – but of course it has little effect on their underlying value. There has, however, also been some good news on value, with sharemarket...

A few good things have happened for ASX since our three-part series in November, culminating in ASX: Competition cuts in – Pt 3 on 28 Nov 12 (Long Term Buy – $29.32).

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