ASX investors spooked by rising technology costs

Investors in the equities market operator were spooked by the high level of capital expenditure required for various technology programs over the medium term, sending ASX stock sharply lower during an investor briefing on Thursday morning.

The exchange outlined higher spending on technology projects including its second attempt to rebuild the equity post-trading system known as CHESS, along with necessary upgrades to four other platforms: cash market trading, derivatives trading, derivatives clearing and futures clearing.