HWLE acted for NSX Limited (NSX) on its acquisition by the Canadian Securities Exchange (CSE).

The transaction, which was announced in May, has proceeded by way of Court approved Scheme of Arrangement. The Scheme of Arrangement became effective on 15 October 2025 following the second Court hearing on 14 October at which the Federal Court made orders approving the Scheme. The Scheme involved various complex issues which required navigation by our team.

The acquisition by CSE will facilitate a capital injection and new technology systems for NSX, which owns and operates the National Stock Exchange of Australia.

This is a transaction of potentially great significance for Australia at a time of growing competition in Australia’s public investment markets.

The HWLE team involved were Rowan McDonald (Partner), Anthony Seyfort (Partner), Michael Napoli (Special Counsel), Yudi Vorchheimer (Solicitor) and Aidan Grau (solicitor). With specialist support in Litigation from Neil Wallman (Partner) and Caillan Massey (Senior Associate), and in Banking & Finance from Annie Tseung (Partner) and Jie Yu (Associate).

Note to Editors:

HWLE is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.

The firm comprises 1,822, staff including 285 Partners, 1,124 other legal staff and 413 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (Northwest Sydney), Perth and Sydney.

HWLE is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.

HWLE operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.

For further information, please contact:

Russell Mailler, Chief Executive Partner (03) 8644 3569 or rmailler@hwle.com.au

Angelique Kear, Head of Marketing (02) 9334 8541 or akear@hwle.com.au