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  • his comments on China and the opportunities ahead for bridging the gap between Asian and Australian capital markets http www apx com au APX Public EN About APX ViewNews aspx NewsID 52 Go Back Asia Pacific Stock Exchange Head Office Level 16 Central Square 323 Castlereagh Street SYDNEY NSW 2000 Australia Phone 61 2 9217 2730 Fax 61 2 9215 2833 Email info apx com au Website www apx com

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=519 (2015-10-07)
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  • trades in APX stocks could be made in the Australian dollar and China s yuan A key part of Mr Wang s strategy is to tap into the growing pool of offshore yuan Mr Wang said Chinese companies approved for listing on the APX would differ from their predecessors which listed but failed to take off on the ASX A lot more due diligence would be done on Chinese companies before listing to ensure they were more successful than those listed on London or New York stock exchanges The difference is we are familiar with the Chinese system and we are building a team in China who will do the initial vetting before they come before the APX listing committee Mr Wang said He expected APX to have an advantage due to its business connections in China APX has opened an office the first Australian company to do so in Shenzhen s new financial district at Qianhai he said The exchange would provide a bridge for Australian companies reaching out to Asian investors and vice versa for Asian firms There was a queue of Chinese companies seeking to list he said In Shenzhen alone there are potentially 300 000 companies of which at least 20 000 would qualify to list But he said the Shenzhen and Shanghai stock exchanges had long waiting lists of float hopefuls Companies making initial public offerings he said would have the opportunity to raise the capital in Australia and China APX has an agreement with China Development Bank Securities and is working with other Chinese groups on providing pre listing documentation and finance to companies seeking to list We see many wealthy Chinese individuals and groups who want to invest overseas Australia is well positioned to capture some of this capital Mr Wang said Aside

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=402 (2015-10-07)
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  • but it can be very tricky and difficult to list on the Chinese stock exchange due to listing restrictions on things such as revenue requirements Mr Wang said Australia is a highly regulated market but it provides the opportunity to a more diverse range of companies and is still in the Asia Pacific region APX was notified by the Australian Securities and Investments Commission that its revised listing rules had been allowed by Treasury last year The next step is approval for its revised business rules which is expected at the end of March at the earliest The exchange is also in the middle of stress testing its new trading system from technology provider TradePort A key part of APX s future success lies with Mr Wang Jeremy Tobias director of business development at APX said Mr Wang s contacts across China and Australia were integral to the business strategy George has deep roots in China He knows the investors in China and the Asian region so we ll be leveraging those relationships that he s built up through AIMS he said Mr Wang has also hired a team that includes former Australian Securities Exchange general manager of operations David

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=405 (2015-10-07)
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  • Ericsson but is hitting road bumps as it expands overseas because the supply of telecommunications technology is a sensitive issue for governments Huawei was founded by Ren Zhengfei a former officer of the People s Liberation Army in China who still runs the company as chief executive Late last year the U S Congress launched an investigation into whether Huawei and other Chinese telecommunications companies pose a potential national security

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=243 (2015-10-07)
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  • reserves policy but normally it would balance the inflow by buying Australian dollars in the spot market Over the past two months though RBA data show reserves have grown by 863 million Australian dollars US 890 million Source http online wsj com article SB10001424052970203922804578080381700187020 html KEYWORDS Australia Market Go Back Asia Pacific Stock Exchange Head Office Level 16 Central Square 323 Castlereagh Street SYDNEY NSW 2000 Australia Phone 61 2

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=248 (2015-10-07)
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  • in a very small organization where they were very focused on results and not too focused on conventionality If you were effective that was enough to move up the ladder WSJ When would you say you got your big break Ms Broadbent It isn t really a big break it s a constant support process and if you find you are constantly supported then you find you create your own breaks They are not always that big it s more a series of little ones WSJ Would you support a quota process to boost the number of women on boards Ms Broadbent I am probably a bit old school and against quotas but if we don t get there then I think quotas can serve a purpose because you do encourage people to look for talent in a different form WSJ Ten years from now do you think we ll see greater female representation at executive and board level Ms Broadbent I thought that 10 years ago I don t know if we have progressed a whole lot but I d like to think in 10 years we ll be further ahead WSJ Are you confident the Clean Energy Finance Corp will attract private sector capital to boost green energy Ms Broadbent There s a real advantage in trying to get private sector skills to make public policy effective and that is what the CEFC is trying to do Co financing is going to be an important part of the effectiveness for this entity We re making sure we facilitate the mobilization of private money WSJ Have regulators gone too far with the new banking regulations Ms Broadbent Australia was dragged into regulation we don t need but it s a global industry and it needs global solutions It s probably gone too far for us because we were perfectly fine the way we were but we have to go with the global standardizations WSJ Is the banking industry in need of higher moral standards Ms Broadbent There s a real role for saying what are we here for what are we doing what s our purpose to get us a little bit more focused on broader principles rather than a pile of money A lot of banks started with principles that need dusting off and reintroducing I really found in recruiting young people that they respond really well to strict guidelines and moral standings and were most appreciative of it That s been overlooked in many of the large U S investment banks WSJ Are Australia s economic fortunes too reliant on China Ms Broadbent We were thought to be too dependent on Britain before Britain joined the common market you are dependent on whoever is buying your goods Australia has been pretty adaptive to shift to where the opportunity is We at the moment are a bit dependent on a mining boom At this stage we have most of the economic growth being driven by mining investment Are

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=247 (2015-10-07)
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  • responsible for market supervision we are going to be looking at unusual trading in every circumstance but it s not a formal investigation at this stage ANZ shares jumped 6 4 to 27 63 Australian dollars US 28 68 on Thursday s Australian share market opening before abruptly falling back to A 26 12 within one minute The bank s shares closed down slightly at A 25 95 This was not an ANZ only issue as it affected about 12 companies said a spokesman for ANZ ASX ASX AU 0 13 with a reputation to protect went further in its desire to establish the reason for the abnormal share price movements in ANZ stock and also the shares of other blue chip Aussie companies including Brambles Commonwealth Bank of Australia CBA AU 0 02 and Aristocrat Clearly what happened was not usual and ASX will closely examine to find an explanation said ASX spokesman Matthew Gibbs in a emailed response to questions Volatility on stocks is nothing new in Australia on options expiry days as traders rush to mitigate the exposure of their tradebooks by hedging But Thursday morning s events took this to a new level with even seasoned

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=246 (2015-10-07)
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  • get this out at the beginning of the year but we agreed with the request by the Australian Securities and Investments Commission to hold it back until after the High Court decision on Fortescue in case the court said something significant about the continuous disclosure rules Mr Lewis said But as it turned out the decision was not as significant as we were all expecting so the guidance note hasn t really changed as a result of Fortescue Among the key changes ASX has proposed to make to rule pertaining to continuous disclosure 1 It will retain the requirement that market sensitive information be disclosed immediately but it has clarified that immediately does not mean instantaneously but rather promptly and without delay making it consistent with judicial authority 2 There will be greater recognition of the role trading halts perform in managing continuous disclosure issues including how to deal with the tension between immediate disclosure and accurate disclosure 3 It has confirmed that the reasonable person test does not in general require that one must disclose when a confidential approach has been made concerning a possible control transaction The last time these rules were updated called Listing Rule Guidance Note 8 was in 2005 Since then the Australian market has absorbed the James Hardie and Fortescue Metals decisions the collapse of Centro and the spurious takeover approach of David Jones by the British based firm EB Private Equity Evie Bruce a partner at King Wood Mallesons said ASX s proposals were quite sensible and would help to clarify the ambiguity surrounding continuous disclosure including what is meant by immediate disclosure There are still many issues and concerns that remain with the structure of Australia s continuous disclosure and enforcement regime but these were not within the scope of ASX s

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=389 (2015-10-07)
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