FEAS Yearbook FEAS Yearbook 2021 | Page 74

The Federation of Euro-Asian Stock Exchanges

Sydney Stock Exchange

74 75

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About Company

Established: 2004

Address: Level 41, 259 George Street, Sydney NSW 2000 Australia

Contact person: Archana Sanduga

Email: [email protected]

Website: www.ssx.com.au

- Joined FEAS in 2020-

Michael Go

Chief Executive Officer

Year in review

This been a busy 12 months for SSX as we have had to deal with the health, social and economic impacts of COVID-19 across the financial markets and the community in general.

Australia has been impacted by a recession for the first time in a number of decades soon followed by recovery in GDP. With this was the highest rate of unemployment in 20 years accompanied by a recovery to pre-COVID employment levels in 14 months. In that period the equity market managed to reach highs with interest rates bottoming out at historic lows.

During the past year, notwithstanding these issues, SSX has been very productive, progressing our technology innovation agenda as well as forging international partnerships along with new product development. The team has responded as a unit and a force to the uncertainty and the challenges of this time showing resilience and commitment to supporting each other, our customers and the industry at all times.

The benefit of SSX’s focus on core sectors of Tech and ESG was evident in our financial results for the 2021 financial year (FY21). Strong listing applications and market support countered the effects of economic constraints of the pandemic. Whilst customer commitment has been strong, physical bell ringing has been delayed due the uncertainties of the pandemic. We expect to see this bounce back when there is more certainty around COVID-19 and further strains in the community slowing.

Operating revenue increased by 15%, with one off and recurring revenue growth for the period.

• Listings and Issuer Services revenue rose by 10% driven by new listing applications, which were at their highest number since FY08.

• Annual recurring revenue increased by 15% from listing, sponsor and market participants.

• The total amount of capital raised also grew by over 10%.

Expenses reduced by 12% due to reduction in staff costs as the business prepares to strategically scale for growth in the next 2 years.

SSX created a platform to enable companies to IPO with investors able to use certain crypto currencies to invest with full prospectus disclosure. This was a first in the market and the exchange won a Digfin award for most innovative exchange in Asia.

The exchange has also been able to gain equivalence on the Deutsche Bourse European OpenMarkets and the A2X South African Markets, which allows its stocks to be traded in these markets without the need for formal listing. This shows support in the listing rules and governance of SSX and we will be working to achieve the same status on other international stock exchanges.

With continued focus on supporting innovative businesses achieve their ambitions in the ESG, Tech, Agri/Aquaculture, Property Fund, Mining & Resources, Medical and Digital sectors, we believe SSX will be a well governed platform that is well regarded in the region.

We are extremely supportive of the work done by FEAS and its members to promote quality financial markets with robust governance and integrity. As such we have been vocal in the promotion of the federation in the Asia Pacific region and are hopeful of a number of them becoming members.