The Australian Stock Exchange has recorded a $7.7 million restructuring charge in its most recent full fiscal year associated with the $50 million overhaul of its trading systems.
In February this year the ASX revealed it would undertake a technology transformation over the next four years to make the exchange more flexible, cost effective and quicker to market.
The ASX had initially forecast a $6.5 million one-off restructuring charge for the program this year, but today revealed the charge had come in at $7.7 million.
Its capital expenditure sat at $44.4 million for the fiscal year, thanks predominantly to the transformation efforts as well as the build of its new customer support centre in Gore Hill, Sydney.
The centre opened in April and co-locates 120 technology, operations and surveillance support staff to offer better and faster responses to customer support issues.
The exchange said it expected its capex in FY16 to come somewhere between $45 million and $50 million.
For FY15, the ASX reported a 4 percent rise in profit after tax to $397.8 million, and underlying net profit of $403.2 million excluding significant items, up 5 percent on FY14. Its operating revenue came in 6.4 percent higher than last year at $700.7 million.
The ASX has targeted its derivates and equities trading platforms and risk management and market monitoring systems first up under the $35 million phase one of the transformaton project.
Swedish firm Cinnober Financial Technology will provide the technology for the new derivatives and equities platforms, and US-based business intelligence and infrastructure firm Tibco will provide new middleware for the market monitoring system.
The ASX last month revealed it would utilise the NASDAQ's Sentinel Risk Manager for its new risk management system, which includes the central margining engine supporting the ASX's two clearing houses.
The second phase will involve post-trade services such as cash market clearing and central securities depository services. The ASX will scope the design of the new platform and select vendors next year.