The ASX Ltd (ASX: ASX) share price hit a record high of $75.37 today as the operator of the local bourse continues to enjoy investor support due to its near monopoly-like position, defensive revenue streams and healthy dividends.
On April 30 the group presented at equities conference hosted by Macquarie Group Ltd (ASX: MQG) where it told investors that the first 9 months of the year had seen futures and options trading up 7% on the prior corresponding period, with total capital raised also up 22%.
Over the full fiscal year operating expenses are expected to grow around 9% with capital expenditure in the region of $70 million to $75 million.
Management at the ASX have also regularly been touting their investments in ‘blockchain’ or distributed ledger technology that over time has the potential to slice back office costs, reduce failed trades and perhaps produce instant settlements.
Elsewhere it’s also investing heavily in overhauling its CHESS clearing and settlement system to improve functionality and reduce costs.
Given the strength of capital markets, big dividends, potential of new technology and dominant market position it’s easy to see why investors love this company.
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The Motley Fool Australia owns shares of ASX Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.