presentation title2011 annual general meeting - asx · asx trade - latency • asx trade order...
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Presentation Title 2011 Annual General Meeting
ASX Limited 22 September 2011 Sydney, Australia
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Introduction
Address by the Chairman Mr David Gonski AC
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Managing Director and CEO
Address by the Managing Director and CEO Mr Robert Elstone
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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
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FY06 FY07 FY08 FY09 FY10 FY11
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OPERATING REVENUE
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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
FY06 FY07 FY08 FY09 FY10 FY11
$ M
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CASH OPERATING EXPENSES
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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
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UNDERLYING NET PROFIT AFTER TAX
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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
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FY06 FY07 FY08 FY09 FY10 FY11
Cen
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DIVIDEND PER SHARE
Capital Return Final Dividend Interim Dividend
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Earnings Per Share
• FY11 EPS of 204 cents per share, 53% higher than FY06
• Absolute growth 53%
• Average annual growth 9%
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EARNINGS PER SHARE
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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
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CAPITAL EXPENDITURE
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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
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LISTINGS
Initial capital raised (LHS) Secondary capital raised (LHS)Total number of listed entities (RHS)
GFC impact
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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%
FY06 FY07 FY08 FY09 FY10 FY11
ASX TradeAVERAGE ANNUAL BID-OFFER SPREADS - EQUITIES
GFC impact
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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)
• Absolute growth 356%
• Average annual growth 35%
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Trad
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ASX TradeDAILY AVERAGE CASH MARKET TRADES
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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
FY06 FY07 FY08 FY09 FY10 FY11
ASX TradeAVERAGE FEE PER TRADE - CASH MARKETS
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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
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ASX TradeCAPACITY
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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
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ASX TradeLATENCY
ASX Trade
SEATS 70,000 microseconds
ITS
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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
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ASX TradeAVERAGE FEE PER VALUE TRADED - CASH MARKETS
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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)
• Absolute growth 35%
• Average annual growth 6%
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GFC
ASX Trade24FUTURES & OPTIONS AVERAGE DAILY CONTRACTS
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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
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ASX Trade24 LATENCY / CAPACITY
Latency (LHS) Daily capacity (RHS)
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Managing Director and CEO
Address by the Managing Director and CEO Mr Robert Elstone
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Agenda Item 1
ASX Financial Report
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Agenda Item 2
Securities Exchanges Guarantee Corporation (SEGC) Financial Report
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Agenda Item 3
Re-Election of Director Mr Russell Aboud
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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
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Agenda Item 4
Remuneration Report
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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
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Collection of Poll Cards
Please complete and submit your poll card
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Presentation Title 2011 Annual General Meeting
ASX Limited 22 September 2011 Sydney, Australia