A 75 per cent jump in the amount of capital raised in IPOs and more trading in futures markets helped push ASX's underlying net profit up 7.2 per cent to $465.3 million, as the exchange flagged an increase in spending over the coming year as it upgrades its technology systems.

While the result was in line with the market's expectations, ASX shares were trading down on the back of the higher cost guidance. They were lower mid-morning but recovered and to be trading up 31¢ late in the session at $68.14.