Chi-X Australia
- Thread starter supermatt
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nulla nulla
Positive Expectancy
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i'm curious as to how the live feed from groups like "Iress" will address the depth of buy sell lists. Will shares be listed on both exchanges and the queue be an amalgamation of buy/sell bids lodged with both exchanges or will they be completely seperate stand alone exchanges like Newcastle, Bendigo etc?
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Any news on the blackpooling of funds?
This may be interesting for brokers, but not very significant for traders. The exchange fees are such a small part of what brokers are charging for share trades.
E.g., Interactive Brokers charges 0.08% of the trade value, with a minimum of $6. That's 8 basis points. The ASX fee is 0.15 basis points.
So if my understanding is correct, and you buy 50000 shares at $1 each, the broker fee is $40, while the ASX fee is $0.75. Even if the Chi-X fee is half that, it's no big deal.
E.g., Interactive Brokers charges 0.08% of the trade value, with a minimum of $6. That's 8 basis points. The ASX fee is 0.15 basis points.
So if my understanding is correct, and you buy 50000 shares at $1 each, the broker fee is $40, while the ASX fee is $0.75. Even if the Chi-X fee is half that, it's no big deal.
Wysiwyg
Everyone wants money
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Heard Chi-X will open for business on 31st October, the end of this month. Set to undrcut the ASX monopoly by 40%. Yip yip yip yip. 
Oh it is only on the ASX200 and ETF's.
Oh it is only on the ASX200 and ETF's. 
Julia
In Memoriam
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A discussion on ABC Radio this evening suggested the two exchanges would function independently with quite possibly different buy/sell prices appearing on each at any given time.
So_Cynical
The Contrarian Averager
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On business Sunday program (ABC - Alan Kohler) they said that a lot of the big foreign trading houses will be using automatic trading scrips and programs to profit from arbitrage opportunity's.
Wysiwyg
Everyone wants money
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Oh I thought brokerage fees might be lowered but Comsec reckons the brokerage will remain the same. Comsec will not be using the Chi-X order book for retail customer order execution at present as was revealed in Comsec's best execution policy disclosure statement.
pixel
DIY Trader
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Westpac said something similar:
They will introduce a best outcome prder, but only after monitoring Chi-X for about a year:
E”Trade made pre-emptive move while ago lowering share trading fees from $24.95 to $19.95
With no difference to orders above $25,000 where % is used.
Hope their monopoly will be broken with Chi-X!
IB can do it, so why others have to charge 3, 4 or 6 times as much, only because they can?
I think I understand it.
Chi-X is something like ASX and now I need agent that will deal between Chi-X and me and offer me broker charges below $15 per trade under $5,000 to make it competitive/attractive.
Or IB like, with minimum charge of around $6
Of course another question remains will budget broker also provide access to what happens on Exchange in real time or with minimal delay?
Time will tell, suppose.
Chi-X is something like ASX and now I need agent that will deal between Chi-X and me and offer me broker charges below $15 per trade under $5,000 to make it competitive/attractive.
Or IB like, with minimum charge of around $6
Of course another question remains will budget broker also provide access to what happens on Exchange in real time or with minimal delay?
Time will tell, suppose.
