ASX Ltd (ASX: ASX) announced today that it is proactively managing the impact of COVID-19 (the coronavirus) to maintain market confidence in the integrity of its operations.
It is monitoring the status of the outbreak and the advice from health authorities and the Government. It's also in close and regular contact with ASIC and RBA, particularly in regards to planning and preparedness. It is also engaging with its customers, other market operators and industry associations for their own arrangements.
The ASX said that it's closely monitoring market orderliness and the responsiveness of its risk management processes. This includes making capital and liquidity return requests of clearing members and intra-day margin calls, both of which are designed to ensure that participants can meet their obligations.
For investors, the ASX is keeping a close eye on company disclosures to help ensure that the market is appropriately informed.
Other actions the ASX is taking
ASX said that its continuity planning includes staffing protocols and practices employees in its offices, and for those that might be working from home, that enable it to continue to operate critical infrastructure and services. There is currently no change in lead times or service levels.
The stock exchange also said that it "already operates its technology out of multiple sites, including a backup facility, which enables us to isolate staff in key locations to reduce the risk of contagion and maintain the capability to operate from one location in the event of infection in another. To do this, we identified the critical roles and number of employees needed to maintain our operations, either on-site or by working remotely, should this prove necessary."
The ASX has also made hand sanitiser dispensers widely available and it's cleaning high-use areas, it has restricted domestic and international business travel, it is conducting as many meetings electronically as possible, it's declining requests to hold events at the ASX or attending events elsewhere, and preparing staff to be ready and able to work from home if required.
