Australian stock exchange operator ASX warned of higher spending for technology upgrades, sending shares down over 12% in their worst day since 2012.
ASX said total expenses would rise by up to 21% in 2027, with capital expenditure forecast at A$180-200 million, up from A$160-180 million.
The company is investing in technology, artificial intelligence, and automation, while running both legacy and new systems.
Regulatory requirements are also driving costs. The Australian Securities and Investments Commission (ASIC) found blunders and cost overruns in tech upgrades.
ASX shares fell 12.6% to A$51.40, while the broader ASX200 index slipped just 0.4%.
