What's Next for the ASX?

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If there is any phrase that stops logical debate with government officials dead in its tracks, it's “national interest.” Its natural opaqueness hides so many sins that it's impossible to argue against. So when the Australian government decided that an acquisition of the Australian Securities Exchange (ASX) by the Singapore Exchange (SGX) was not in the country's national interest, the deal was pretty much over.

It's doubtful we'll learn what the sticking point was for the Australian regulators

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