Response to PEXA announcement: Urgent decision needed this year on next steps for eConveyancing competition

Monday 11 August 2025 – Today, the Property Exchange Australia (PEXA) announced that they would no longer continue to hold interoperability assets on their balance sheet given the remaining uncertainty around next steps in the Program following its pause last year.

This announcement is a clear sign that a decision on the next steps of the interoperability program is needed urgently this year to enable choice and competition in the eConveyancing market.

We call on ARNECC to ensure that the planned reviews, which are now 6 months behind schedule, are completed in October to allow Ministers to make a positive decision in 2025 on next steps.

A failure to communicate a clear pathway to competition this year will not only further erode industry confidence but will also leave this market with a massive single point of failure risk of an entrenched monopoly.

Sympli Chief Executive Officer, Philip Joyce, said:

“This should be a wake-up call to ARNECC and Ministers that we are running out of time to follow through on their commitments. This also raises a concern that a well-resourced organisation is deliberately not maintaining technology required for mandated regulatory reform.”

“The announcement this morning by the PEXA monopoly is partly due to regulatory failure to make a decision – given it has been over 7 years that this reform was promised.”

“It is now critical that these long-awaited reviews conclude in October and Ministers make a positive decision in 2025 on next steps of the competition reform – or otherwise risk an emboldened monopoly in this market, forever. That would perpetuate a massive single point of failure risk and block meaningful benefits for consumers and small businesses.”

Media Inquiries: Jerome Boutelet, Public Affairs Manager at media@sympli.com.au, or 0411 045 119

About Sympli
Sympli is the result of a collaboration between InfoTrack and ASX. We want to create more opportunity, add value and represent the market with an e-Settlements service from which practitioners across Australia can benefit.

InfoTrack is Australia’s leading provider of eConveyancing technology and services and has been creating software for the legal and financial industries for over 18 years. InfoTrack has a focus on simple, end to end solutions, leveraging expertise to craft a truly integrated e-settlements platform that you can trust.

As one of the world’s leading financial exchanges, the ASX bring experience in clearing and settling transactions with security, speed, reliability, and cutting-edge technology. The combination of the two bring you Sympli: the next generation e-settlements solution delivering healthy competition, reliability, security and value to the industry.

For more information visit sympli.com.au