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Difference between ASX and NSX?

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Tyler Durden

Tyler Durden

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I just discovered that there is an alternative stock exchange to the ASX called the NSX. This is like...drinking regular coke for years and then discovering vanilla coke :eek:

So I did a bit of research to find out what the difference was between the ASX and NSX, and found this (the actual NSX website doesn't give a very helpful description):

The main competition for the ASX is the NSX, which specialises in the listing of small to medium enterprises. It has 40 companies listed on its platform -- mainly retail and mining companies -- with a combined market capitalisation of more than $800 million.
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http://www.theaustralian.com.au/bus...-stock-exchanges/story-e6frgac6-1225887271911

So does anyone here trade on the NSX? Anyone know any other differences?
 
So does anyone here trade on the NSX? Anyone know any other differences?
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Not many brokers offer it yet, and those that do aren't necessarily onliners:
http://www.nsxa.com.au/broker_list.asp

One share I own has been transferred across from ASX to NSX; but as I haven't been in a hurry to sell it, I decided to wait for one of "my" brokers to add NSX.

From what I gather, there aren't a lot of trades going through - usually less than ten a day. But your information, 40 listed companies, is way out of date. Currently, there are 85, and their codes are here: http://www.nsxa.com.au/market_officiallist.asp
 
ASX do the trade administration for the NSX. NSX currently uses fax machines and emails and similar to inform ASX of what happens each day so CHESS can process the admin. This has just changed with NSX gaining access to the live part of CHESS (the same as Chi-X does). The connection (called TAS) is is going live in about a month. TAS will allow more brokers (and broker customers) to trade NSX. Basically NSX will become more "normal" to trade on.

The interesting part is that NSX, at the same time as ASX TAS is doing the "official" recording, will test run an in-house parallel system to record the trades. This test system is Distibuted Ledger Technology (DLT), blockchain to its friends. NSX calls it DESS.

The DESS code has somehow been "taken and massaged" from a small part of NASDAQ that uses DLT recording (not the main NASDAQ system which is not blockchain). This is of itself very interesting as future NASDAQ tie-up details have not been released in any way.

This is important because this is step 1 of NSX getting its own blockchain based clearing and settlement system (and not have to pay ASX to do this)., and ASX is having trouble with development of its own blockchain system to replace CHESS (as are many of the worlds exchanges).

iSignthis (ISX) is the driver behind this DLT system. ISX are money clippers (amongst other things) and wish to be the "bank" behind NSX cleaing and settlement. A working DLT settlement system would also be able to be sold/partnered into other exchanges.
 
SP has been on a little run and acting quite like a fintech start-up as it gets closer to the 23rd November which is TAS Go Live date. Volumes up as well.
I see cash-flow as a problem for these guys and a slow hard grind ahead.
There is no real indications yet on TAS being cheaper for NSX, or same pricing as previously, but they are cost cutting (and recently "ejected" another of the "legacy" directors - last one?). They are trying to attract sub-ASX300 companies, as well as IPO's, on a "we are real cheap to list" basis. They have 2 more broker participants signing up soon (no idea who).

I do find it a bit of a mind warp that iSignthis (part owner of NSX) is dead against listing on the NSX. ISX say they want to list on a "premium exchange". Says it all really.
 
interesting
HelloU said:
SP has been on a little run and acting quite like a fintech start-up as it gets closer to the 23rd November which is TAS Go Live date. Volumes up as well.
I see cash-flow as a problem for these guys and a slow hard grind ahead.
There is no real indications yet on TAS being cheaper for NSX, or same pricing as previously, but they are cost cutting (and recently "ejected" another of the "legacy" directors - last one?). They are trying to attract sub-ASX300 companies, as well as IPO's, on a "we are real cheap to list" basis. They have 2 more broker participants signing up soon (no idea who).

I do find it a bit of a mind warp that iSignthis (part owner of NSX) is dead against listing on the NSX. ISX say they want to list on a "premium exchange". Says it all really.
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needs its own thread (as an ASX listed stock ??!!)

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