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AAP
AAP
Business
Kaaren Morrissey

ASX to pay $20.5m penalty for misleading market

A deal means ASX Ltd will avoid a trial in relation to three statements made four years ago. (Lukas Coch/AAP PHOTOS)

Australia's stock exchange operator will pay a $20.5 million penalty after making a misleading statement that the corporate watchdog says risked undermining confidence in Australia's financial markets.

The deal means ASX Ltd will avoid a trial in relation to three statements made four years ago regarding the status of a multi-million-dollar project to upgrade its clearing and settlement system.

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