22 September 2017
visit www.avoka.com

Chi-X preps roll out of Transferable Custody Receipts in Australia

21 October 2016  |  2570 views  |  0 Source: Chi-X

Chi-X Australia is on target to commence the exclusive trading of Transferable Custody Receipts (TraCRs) in early February 2017 on its investment products marketplace.

TraCRS (pronounced tray-sirs) are based on an underlying asset that is a member of the primary index of a specified offshore market, which will initially include the main United States exchanges NYSE and NASDAQ, meaning Australian investors will be able to trade on an Australian exchange to invest in the top US stocks.

CEO of Chi-X Australia John Fildes told the Chi-X Retail Advisory Committee in Sydney last night, “We are on target to commence trading TraCRs on Tuesday February 7. TraCRs will be a game changer for Australian investors as for the first time they will be able to invest in some of the world’s biggest companies in Australian dollars, on an Australian exchange, protected by Australian regulations.

“Both retail and institutional investors face the problem of diversifying their portfolio and gaining meaningful exposure to global growth stories and the new economy. While many Australian listed companies, ETFs and LICs are delivering underlying offshore assets and exposure in an Australian listed stock, to date no one has been able to provide direct beneficial ownership of the US powerhouses that TraCRs will deliver,” he added.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.sibos.comvisit www.capgemini.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12795 views comments | 27 tweets | 42 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9591 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8309 views comments | 19 tweets | 27 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
8263 views comments | 13 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
7709 views comments | 16 tweets | 1 linkedin

Featured job

Find your next job