PEXA Group (ASX:PXA) acknowledged the Australian Registrars' National Electronic Conveyancing Council's (ARNECC) statement that it had decided not to proceed with the interoperability program at this time and added that PEXA will continue to work with ARNECC and the relevant authorities to improve the existing national network, according to a Tuesday Australian bourse filing.

ARNECC said that instead of continuing with the program, it will strengthen the existing eConveyancing national regulatory framework to protect consumers and improve resilience.

ARNECC had commissioned two independent reports to help it in determining the future of its interoperability program and competition policy reform within the eConveyancing industry. State and Territory Ministers noted that the reports were consistent in highlighting the need for the involvement of the Commonwealth government in the matter.

Its shares jumped 3% in recent trading on Tuesday.