Chi-X Australia Pty Limited, a wholly owned subsidiary of alternative trading venue operator Chi-X Global Holdings LLC, today announced that it has successfully completed its "soft launch" period and has received ASIC approval to introduce trading in all S&P/ASX 200 component stocks and ASX-listed ETFs (Exchange Traded Funds) from the commencement of trading on Wednesday, 9 November.
Peter Fowler, Chief Operating Officer of Chi-X Australia, after having received ASIC approval to significantly broaden the service offering of the Chi-X trading platform, commented, "We are pleased that the first week of trading in Australia's multiple market environment has gone so smoothly for our 22 trading participants, system vendors, market data distributors and ASIC. We are encouraged to see liquidity growing on our platform, and with the introduction of new securities, are excited for the price improvement opportunities that will now be available to Chi-X Australia participants."
Tal Cohen, Chief Executive Officer of Chi-X Global, said, "We are confident that our presence will continue to deliver benefits for all Australian investors through lower trading fees and a more robust environment that encourages liquidity and investor interest in the Australian market.
"We commend the efforts of the government and regulatory agencies that have worked tirelessly with Chi-X Australia and the industry to achieve this result that delivers competition, innovation and reform in Australia's financial markets," he added.