Wednesday, October 27th, 2010
Whilst ASIC continues to take hold of the regulatory reins of the securities markets, and pushes forward with further industry consultation on market integrity rules, Australia’s leading trading venues – the ASX and Chi-X - are gearing up for a competitive market.

Confident of their successes around the world, Ronald Gould, CEO of Chi-X Asia-Pacific, said, “Having secured in-principle approval for an Australian market license, Chi-X Australia intends to launch a low cost, high speed, intelligent trading platform that is based on a model that has captured support from both investors and regulators by providing lower trading costs, increased overall market liquidity, and thus, improved trade execution quality for investors”.

Yet Australia’s veteran venue is far from relinquishing its majority hold on market share. 2010 has witnessed an impressive response from the ASX, who have slashed fees, embarked on building a new data centre and introduced initiatives such as VolumeMatch. Chief Executive Robert Elstone is quietly confident that, “we will be very well placed to compete fairly as and when competition starts”.

Although Chi-X’s entry into the market is now not expected until early 2011, both venues are conscious that the race for profit share has already begun.

Answering questions led by the Australian Financial Review and a host of major investment banks and fund managers, Richard Murphy, ASX and Peter Fowler, Chi-X will take to the stage at Australia’s first Capital Markets Technology Conference on 30 November to define how they each envisage Australia’s capital markets will evolve.

The event will also invite the views of New Zealand Stock Exhange’s Head of Markets, Fiona Mackenzie and Stephen Zilioli, Co-Head of buy-side marketplace Liquidnet Australia, as well as Tetsuo Otashiro of the Asian & Oceanian Stock Exchanges Federation, as to what they see as the future for trading in the rapidly growing Asia Pacific region.

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Financial Review, Stock Exhange, trading, Asia Pacific, marketing, technology


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