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ASX Annual Report 2004/05

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ASX Annual Report 2004/05 ERS 2004/05 D REHOL A haping... S REPORT TO SH AUSTRALIAN STOCK EXCHANGE LIMITED – REPORT TO SHAREHOLDERS 2004/05 www.asx.com.au Directory ASX around Australia Sydney ©Australian Stock Exchange Centre Exchange Limited. 20 Bridge Street ABN 98 008 624 691 Sydney NSW 2000 (“ASX”) 2005. Telephone (61 2) 9227 0000 All rights reserved. No part Facsimile (61 2) 9227 0885 of this publication may be republished without permission. Adelaide is a registered trademark of No responsibility is accepted Level 19 ASX Operations Pty Limited for any inaccuracies in the 91 King William Street ABN 42 004 523 782. matter published. Adelaide SA 5000 ASX20™, ASX50™, ASX200™, ASX, its related companies, Telephone (61 8) 8216 5000 ASX300™ and Buy-Write Index™ their officers and employees Facsimile (61 8) 8216 5098 are trademarks of ASX Operations shall not be liable in any way for Pty Limited ABN 42 004 523 782. Brisbane any loss or damage, howsoever S&P is a registered trademark arising (whether in negligence Riverside Centre of Standard and Poor’s, a division or otherwise) out of or in Level 5, 123 Eagle Street of The McGraw-Hill Companies connection with the contents Brisbane QLD 4000 Inc. OM CLICK and CLICK XT are of and/or any omissions from Telephone (61 7) 3835 4000 trademarks of OM Gruppen AB. Facsimile (61 7) 3835 1004 this communication except where a liability is made non August 2005. Hobart excludable by legislation. The Thankyou you to Goldman Sachs AMP Building information in this publication JB Were for allowing us to Level 12, 86 Collins Street provides general information photograph their trading room for Hobart TAS 7000 only. It is not intended as the Technology Division Section. Telephone (61 3) 6234 7333 investment, financial, or legal Designed by DesignWorks Facsimile (61 3) 6234 3922 advice and must not be relied Enterprise IG. upon as such. Melbourne You should obtain professional Stock Exchange Centre advice tailored to your specific Level 3, 530 Collins Street circumstances and needs prior Melbourne VIC 3000 to making decisions. Telephone (61 3) 9617 8611 The information in this Facsimile (61 3) 9614 0575 document does not, and must not be construed as an offer or Perth recommendation of securities Exchange Plaza or other financial products. 2 The Esplanade All Ordinaries®, ASX®, ASX100®, Perth WA 6000 LEPO® SEATS®, ASX WorldLink® Telephone (61 8) 9224 0000 and CHESS® are registered Facsimile (61 8) 9221 2020 trademarks of ASX Operations ...for growth Share registry Pty Limited. ASX Perpetual ABN 42 004 523 782. Registrars Limited Level 8, 580 George Street Sydney NSW 2000 Telephone (61 2) 8280 7111 Facsimile (61 2) 9287 0303 Internet www.asxperpetual.com.au Auditor KPMG ASX on the internet www.asx.com.au Email: [email protected] ASX by phone 131 ASX (279) for the cost of a local call 2 Our Scorecard 15 Market Supervision 30C orporate Responsibility 42 Financial Report from anywhere in Australia C6 hairman’s Report 19 People and Development G31 roup Executive Committee 43 Directors’ Report 8 Managing Director’s Report 23T echnology C32 orporate Governance 104S hareholder Information 11 Markets and Strategy S27 hared Services 40 Director Biographies 105 Directory 1 0 5 Shaping for growth is about more than reducing costs. It’s about being able to focus… to focus on promoting market integrity; on meeting our customers’ needs; on growing Australia’s capital markets. This report shows how ASX is shaping for growth in response to six fundamental challenges about our business: 1. Market integrity is more than just a licence responsibility. 2. Our shareholders are entitled to outstanding returns. 3. Our markets should be the best supervised markets in the world. 4. Our people should see a clear strategy. 5. Exchanges need to rethink their technology platforms. 6. Scale does matter. Our Scorecard “Shareholders are entitled to outstanding returns. Customers deserve outstanding service. Our people need to be engaged and happy. Our markets need first rate supervision, and our systems have to be world class. ASX is delivering on each of these fundamentals. We will continue to measure our progress in these and other areas and report back to all our stakeholders.” Tony D’Aloisio Managing Director and Chief Executive Officer Our People ASX in the Community Building a great business means developing great people ASX aspires to be a leader in corporate responsibility. and creating a great work place – one where our people Via payroll giving, our people contribute to a range feel inspired and engaged. Our people are diverse and of community groups and we match these staff gifts talented, take pride in their success and derive a sense dollar-for-dollar. Following the Boxing Day tsunami, of achievement from their work. While our restructure our people contributed generously to the relief efforts and profit and loss drivers review has resulted in changes and these gifts were also matched by the company. to our workplace, our ongoing challenge is to stay focused on our people and implement the necessary With more Australians than ever owning shares, initiatives to enable them to grow. promoting financial literacy continues to be important for ASX. We offer ten online education classes, clear and accessible explanatory booklets, and “Investor Hour” seminars. Students at more than half the secondary schools in Australia participate in our share market game for schools. Our Shareholders Our profit surpassed $100 million for the first time... Net Profit After Tax Revenue by Category – FY05 /THER2EVENUE 3IGNIFICANT)TEMS .ET0ROFIT!FTER4AX -ARKET$ATA ,ISTINGS $ERIVATIVES MILLION %QUITIES &9 &9 &9 &9 &9 &9 &9 Increases on previous corresponding period are bracketed. ...And shareholders enjoyed outstanding returns... Normal Earnings Per Share – Pre Goodwill Dividend Per Share 3PECIAL$IVIDEND 4OTAL$IVIDENDS $OLLARS $OLLARS &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 Supervision of our Markets Our Customers …While our market supervision was among the Our customers gave us generally good ratings, around best in the world. six and seven out of 10… We will improve. Regulation of Securities Exchanges. We ranked third among 04 countries. Participant satisfaction with our performance in key areas 3%!43#(%33 !#($#3 %QUITIES-ARKET !CCOUNT-ANAGEMENT )NTEREST2ATE-ARKET 3CORE 7ARRANTS !CCOUNTS"ILLINGS /PTIONS-ARKET -ARKET)NTEGRITY $ISCIPLINARY4RIBUNALS /PERATING2ULES %XECUTIVE-ANAGEMENT "USINESS$EVELOPMENT )TALY +OREA *APAN #ANADA !USTRALIA 'ERMANY $ENMARK (ONG+ONG )MPORTANCE2ATING .EW:EALAND 5NITED3TATES 0ERFORMANCE2ATING )MPORTANT%XTREMELY)MPORTANT 5NITEDKINGDOM Source: The Global Competitiveness Report 2004–2005, World Economic Forum Source: ASX Participation Satisfaction Survey, 2004 4 CHAIRMAN’S AND managing director ’ S R E P O R T Market integrity is more than just a licence responsibility... ...it is a fundamental driver of our success. Integrity is the core value of ASX and ensuring market integrity is It is the key to our brand and reputation, and a priority of our our point of difference. Board, senior management, people and all our stakeholders. 5 The Australian Stock Exchange can appear to be a complex and “ The story of Australia’s multi-faceted business, but at its heart, we are guided by one simple mandate: to improve the quality of our services so as to equity market is one of increase returns for shareholders. Although a number of factors contribute to achieving this, we growth and depth. This is believe that ensuring market integrity – a market that is fair, orderly and transparent – underpins this goal. A market of integrity benefits &IXED)NTEREST those who use it and those who own it: you, our shareholders. good news$OMESTIC%QUITIES for investors /VERSEAS BASED%QUITIES In pursuit of this mandate, ASX continues to evolve. It is with this and for the country.” in mind that I welcome you to our account of the financial year 2004/05. It was a good year, producing an excellent result, but it is not the end of the story. This report shows you how your company is progressing: where it BILLION has done well and where we intend to deliver greater performance in the future. This report also differs from previous years. For example, you will find a “scorecard” outlining what we have set out to do, and the success we have had. We will apply this perspective to all our declared intentions and activities, and report to shareholders and the wider market in an appropriate and timely manner. Like any public company, ASX Limited is judged on both its historical The Growth of our Capital Markets performance and its prospects. Keeping shareholders and the wider market as informed as possible as to what’s in store is vital. TRILLION This includes detailing our financial results and those goals that help provide an insight into the company’s direction. It also means seeing ASX and Australia’s equity market in the bigger picture. Over the last decade, the market capitalisation of domestic companies listed on ASX has increased from around $280 billion to $975 billion by 30 June 2005. Growth over the last financial year alone was more than 16%. BILLION With this growth has come a deepening of liquidity. The deeper the liquidity, the more efficient the market and the easier it is for buyers and sellers to transact quickly and with less risk. According to the World Federation of Exchanges, ASX’s liquidity at the end of 2004 was 81%. By the end of the financial year it had risen to 84% – a figure comparable to New York (89.9%) and better than most &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 &9 exchanges in the Asia-Pacific region, including Singapore (60.8%) /VERSEAS BASED%QUITIES $OMESTIC%QUITIES and Hong Kong (57.7%).
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