Australia’s superannuation funds own about a third of the ASX – and one in two Australians hold investments outside their home and superannuation.
The good news is our new analysis confirms Australia continues to have some of the cleanest listed equity markets in the world – where the proportion of unusual trading ahead of material price-sensitive announcements continues to fall. Compared to global peers, we have less than half the amount of unusual trading ahead of merger and acquisition announcements.In a well-functioning market, information is king. It unlocks value for investors. But we all pay the price when it isn’t kept watertight.
We monitored the price impact in real time following publication of the article, noting the market was able to trade on this information for a short time before trading in the stock was paused. Investors who sold before the article was released missed out on the increase in the share price that followed.The company sought a trading halt after market close and disclosure was made to the market the following day.