Readers’ letters on the Reserve Bank losing confidence in the ASX, Donald Trump’s backdown on tariffs, foreign students and Peter Dutton’s election campaign
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The assistant Reserve Bank governor Brad Jones has voiced what stock market participants have known for years – you wouldn’t put the ASX in charge of a Saturday morning Bunnings sausage sizzle, let alone make it responsible for significant technological upgrades to the CHESS trading and settlement system (“RBA’s ‘lost confidence’ in ASX”).
Jones this week pointed out the ASX’s entrenched culture failing to resolve risk-related issues. The problems go much deeper and include casual disregard for the participants who pay the ASX’s daily charges.
