Chi-X Australia

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Chi-X Australia
Chi-X Australia.jpg
Founded 2011
Key People John Fildes, Chief Executive Officer
Products Equity trading
Website http://www.chi-x.com.au/Home.aspx

Chi-X Australia, a wholly-owned subsidiary of Chi-X Global Holdings, is one of two public venues for stock trading in Australia.[1] It launched in Q4 2011 to provide competition to the incumbent Australian equity trading market, the Australian Securities Exchange (ASX). [2]

History

Chi-X Australia's parent Chi-X, backed by Nomura Holdings Inc., began operating in November 2011 and has since gained more than 10 percent of market share.[3]

In June 2013, a study led by Michael Aitken of the Capital Markets Cooperative Research Centre found that, in its first year, Chi-X Australia has brought AU$ 215 million in net benefits to the market. The study said that the competitor to ASX brought savings from reduced trading costs, and these costs outweighed the increased regulatory and technology costs required by having two national stock exchanges.[4]

In November 2013, on the trading venue's second anniversary, the exchange announced that it had set two market share records - a weekly market share of 18.39 percent and a daily record market share 24.67 percent on November 4, 2013.

In 2014 the exchange launched a market on close facility and introduced a new low latency trading interface.

The exchange's market share hit a record of 29.86% by value traded on July 11, 2014.[5]

Products and Services

Key People

References

  1. About Us. Chi-X Australia.
  2. Fildes flies south to replace Fowler at Chi-X. The Trade News.
  3. Chi-X Poaches Getco's Fildes as Australian CEO to Replace Fowler. Bloomberg News.
  4. Independent Study Reviews Impact of Chi-X on Australia. Global Custodian.
  5. Chi-X Australia hits personal best for daily turnover. The Trade.