CEO Survey 2020: Dominic Stevens, ASX

Encourage businesses to broaden and diversify apparent economic reliance on China, says ASX chief Dominic Stevens.

What are the three enduring lessons or changes to flow from COVID-19?

The importance of a healthy and happy workforce, which is able to work flexibility in or out of the office.

The acceleration of digital processes in business and in our private lives.

The value of co-operative, focused national political leadership that is informed by experts.

How would you rate the shape of the Australian economy as we head into the new year?

Better than most of our peers and well placed to recover, subject to the arrival of a safe and effective vaccine, and the impact of a winding-down of the various financial relief and stimulus measures. While the signs of confidence and optimism are evident from a markets perspective, some industries and communities have endured more than others, and will take longer to recover. We need to be sympathetic and supportive of this unevenness.

What three reforms are needed to sustainably grow the economy?

Clearer and more sustainable energy and climate policy.

Help accelerate the uptake of digitisation across the economy.

Encourage businesses to broaden and diversify the apparent economic reliance on China.

What are the three best growth opportunities for your company in 2021?

Here’s four …

Take-up of the just-launched five-year government bond futures contract, which aligns with the RBA’s new yield curve measures and the volume of issuance from the AOFM.

Full connectivity of Sympli (our joint venture), to offer a more cost-competitive e-conveyancing solution in the property space.

Growth of ASX Datasphere, with an expanded range of datasets and participants.

Return of IPOs and new listings, particularly tech and foreign companies, drawn to the underlying strength and liquidity of the Australian market.

What impact will digital transformation have on your company?

Over the last four years we have been investing in technology infrastructure and processes so ASX and the broader Australian financial services industry can benefit from digital transformation. Standardised, curated, machine-readable data, straight-through-processing and multi-party work flows are all current initiatives that we believe will deliver efficiencies and opportunities to our customers and the industry.

How would you rate business, state and federal government performance this year?

Overall, very sound. That must be the assessment given the relatively good position — both health and economically speaking (notwithstanding some ups and downs) — Australia is in. I would put the community alongside business and governments as making a critical contribution to Australia’s overall performance. As ever, when the need arises, our nation pulls together very effectively, which is in contrast to the experience of many other countries.