PEXA Group Limited

ASX:PXA

PEXA Group Limited

ASX:PXA
TradeAdd trade order Follow Unfollow Set Price Alert
$14.37 (-1.1%)
Last close price
--
Rank
2
Held by
18
Followers
TradeAdd trade order Follow Unfollow Set Price Alert
Reports (1) My Report Forum Investors
Forum Topics PXA PXA Business Model/Strategy

Pinned straw:
Mujo
Added 2 months ago

Shows the power but not sure this will keep the regulators on board.


ASX-listed PEXA is taking the NSW Registrar General to court and is refusing to pay a $1-per-transaction fee to the data standards regulator after the registrar general blocked Australia’s dominant electronic conveyancing firm from passing the charge on to customers. PEXA is refusing to pay the levy until all state and territory land registries approve the cost pass-through, a step NSW has deferred until the end of next year, according to Capital Brief sources.

A spokesperson for smaller rival Sympli, which processes about 2,500 transactions a month, far fewer than the roughly 350,000 Australian property transactions handled by PEXA, said that regulators must now have realised the reality of the “PEXA monopoly” to “put its own interest first”.

lowway
Added 2 months ago

Thanks for the $PXA update @Mujo. There's been a few attempts in the past to create some form of standard to increase competition in this conveyancing space, but all to no avail. Most likely due to the efforts of PEXA to be fair. To date, PEXA have made a lot of noise about being willing to be a party to a standardized platform that multiple vendors could use for the same outcome, but I doubt they have tried hard for this to happen and most likely, at least behind closed doors, have thrown up any roadblocks possible to stifle competition. I know I would in their position, so I'm not casting any aspersions here.

Interesting that the NSW Government thinks the dominant (monopolist) player should fund the standardization, that has been attempt and failed previously, by paying a non-user transferrable fee from each transaction to some form of slush fund. In other words, PEXA pays for the next iteration of the platform standardization. Although, I doubt $350,000/annum is going to go far in the IT world.

This will be an interesting watch from the sidelines, which I'm sure will take some time to play out.

Disc held IRL in small doses

12