ASX to face competition in financial reform broadside from federal government; has US inflation peaked?

The Australian Stock Exchange is being targeted for greater competition as part of financial services reform from the federal government. 

The broadside comes as investors remain angered over the ASX's failed to successfully replace its trading and settlement system. 

Read the announcement from Assistant Treasurer Stephen Jones

Also US inflation falls for the second month although still running at an annual pace of 7.1 percent. ABC's Peter Ryan says the US Federal Reserve remains on track to raise interest rates by 0.5 percentage points tomorrow morning Australian time.

Here's my analysis on ABC Newsradio