There’s nothing like a bit of corporate intrigue to liven up the normally quiet world of property conveyancing. May 31 will go down as a big day in the sector’s history.

The long-awaited blow to the $1 billion-plus sales ambitions of electronic property settlements group PEXA was delivered on Thursday, when ASX Ltd formally announced its intention to partner with legal software group InfoTrack and create a challenger to PEXA’s monopoly.