iscover 
The proposed ownership change follows recent announcements from the Australian Registrars’ National Electronic Conveyancing Council (ARNECC) and ministers that the e-conveyancing interoperability program would not proceed without Commonwealth government support.
Under the agreement, the Australian Securities Exchange (ASX) will sell its 49 per cent stake in Sympli to ATI Group for a nominal amount, marking the exchange operator’s exit from the joint venture.
In an ASX update, the exchange said the divestment would result in an after-tax loss of approximately $12 million being recognised as a significant item in the financial year 2026.
“On completion, we will no longer recognise our share of the operating losses of Sympli which were $4.4m after tax in 1H26,” ASX said.
The ownership change is currently progressing through the relevant regulatory approval processes.
A spokesperson for Sympli said: “Sympli is a critical component of a competitive, resilient and reliable electronic property settlement market. Its mission is to deliver the benefits of choice and resilience to our industry and its customers.
“This mission remains strongly supported by ATI.
“While ownership will be changing, Sympli’s customers can continue to expect the same high level of service, innovation, competitive pricing and care from our team.
“Sympli will continue to be run as an independent business determined to deliver genuine choice to customers.”
Digital conveyancing firm, Lawlab warned that the ASX’s decision to sell its 49 per cent stake in Sympli represented a "dangerous turning point for competition" in Australia’s e‑settlement market, clearing the path for a monopoly at the centre of the country's property system.
“When the ASX decides its stake in the only alternative platform is worth next to nothing, it sends a clear message – the market has given up on competition,” said Lawlab Managing Director Ian Perkins.
Perkins argued that the ASX has walked away from the only platform who was capable of challenging PEXA Group, which currently facilitates nearly 90 per cent of all Australian property transfers.
“When the ASX decides its stake in the only alternative platform is worth next to nothing, it sends a clear message – the market has given up on competition,” Perkins said.
“If Sympli collapses or is weakened further, Australia will be left with a single private operator, PEXA, controlling a $1 trillion settlement pipeline.
“That is an unfettered monopoly and consumers will pay the ultimate price.”
Perkins added that a lack in consumer options would increase costs and leave the housing industry vulnerable to outages.
“If PEXA goes down, settlements stop. Families can’t move in, removalists wait on the street, bridging finance blows out, and consumers have no alternative platform to turn to because there is no choice, no backup, and no recourse.”
Interoperability falls apart
The national interoperability regime was designed to increase competition in Australia’s e-conveyancing market by allowing different electronic lodgment network operators (ELNOs) to transact seamlessly with one another.
The reform aimed to allow each party involved in the settlement process, including lawyers, conveyancers, and financial institutions, to use their preferred ELNO regardless of the platform selected by other parties in the transaction. The regime had been scheduled for completion by 31 December 2025.
It was hoped that this system would encourage greater competition in the sector by making it easier for alternative providers, including Sympli, to challenge the dominant position of PEXA Group.
However, the interoperability program was paused by ARNECC in June 2024 amid ongoing implementation issues. On 31 March 2026, ARNECC confirmed it would not proceed with the interoperability regime without Commonwealth government support.
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