The listing of a stock exchange is a strategic move which helps to improve the management and transparency of the market, according to the deputy managing director of the publicly listed Australian Stock Exchange (ASX), Robert Nottle.
Mr Nottle was the Securities and Futures Commission chairman from 1992-94.
After leaving the SFC he joined the ASX, which carried out the demutualisation plan in 1997 and publicly listed its own shares in its own market in October last year.
Its next move was to merge with the Sydney Futures Exchange.
The Australian move resembled the SAR Government's proposed market reform announced in the Budget in March, which would demutualise and merge the stock exchange, futures exchange and their associated clearing houses into a new entity.
That entity would be listed in the local market by September next year.