(01 April 2010 – Australia) The Australian government has, in-principle, given approval for a new market to trade shares, possibly putting the Australian Securities Exchange up against some tough competition.The government has given its support to Chi-X Australia, the local subsidiary of Chi-X Global, a trading platform to operate locally, following the completion of a licensing and regulatory process.
Chi-X provides equities trading services in Europe and the US and was launched three years ago.
Chi-X is the first alternate equities market to win approval from the Australian government.