Forgive me if this has been covered here previously.

For some time there has been a push to encourage those operating in the electronic conveyancing lodgement arena to get together and make sure their systems can interact in what I understand might be similar to how the banks work together, when their customers transfer funds. This is referred to as "interoperability".

The Australian Registrars’ National Electronic Conveyancing Council (ARNECC) has been charged with this task. They have conducted test runs and were due to roll out in QLD & NSW. My reading of this is that the implementation of this interoperability was designed to encourage competition in the market. Giving other Electronic lodgement network operators (ELNOs), companies like Sympli and Lextech Pty Ltd, a greater opportunity to participate alongside Pexa.

Then on 26 June 2024 in an ann. to the ASX Pexa advise:

"ARNECC advised industry that the interoperability program has been paused, and they are in the

process of standing down their project team."

This reads to me as: The powers that be, are throwing out the interoperability plans and Pexa's near monopoly status remains intact. Competition will not be fostered, at least using this mechanism.

For those who have been following PXA is that a fair assessment of the situation?