ASX sees trade volumes soar in May

The Australian Securities Exchange (ASX) saw a substantial growth in trade volumes last month, despite continued lackluster movement in initial public offerings (IPOs).

According to its May monthly activity report, ASX reported a 31% increase in total trades, representing a 42% increase in the financial year to the end of the month.

It also saw a 37% increase in average daily trades of over 2.6 million transactions, compared to 2.07 million average daily trades in the same month last year.

In comparison, total trades were up 22% and average daily trades were up only 16% in April.

ASX futures volumes were also up 21% in May from the previous corresponding period and average daily options volumes were up significantly over the same period, ASX said.

Total average daily futures and options on futures volumes were up 21%.

Meanwhile, IPO numbers remained slow, with eight new entities listed in May but there was net growth of zero as another eight entities were delisted. Notably, June marks the completion of the first year of a two-year pilot program to shrink timetables for IPOs to boost listings.

Further, in its recent financial guidance for FY27, ASX's capital expenditure is set to blow out to between $180 million and $200 million from technology costs and new product development.

At the same time, ASX provided an update on ASIC's legal proceedings which kicked off in August 2024 in relation to representations made regarding the previous CHESS replacement project in February 2022. Defending itself, the matter is proceeding to trial on June 15.

Separately, the bourse also appointed Anthony Attia of Euronext, its European counterpart, as its chief executive last month. He will join on September 1, with previously announced interim chief Darren Yip set to support the transition.