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Showing posts from March, 2011

Chi – x The new big boy in town

It could be soon “ BYE BYE ASX”  as Chi X  gets closer to starting its own exchange here in Australia.Australia’s securities market regulator will tomorrow outline steps to open the country’s equity market to foreign competitors for the first time in its 150-year history. Australian Financial Services Minister Bill Shorten will sign off on the Australian Securities & Investments Commission’s licensing plans later today From ASX To Chi-X Australian trading exchangeChi-X Australia Pty, a unit of Chi-X Global, sought to begin operating as early last October before rescheduling the launch to the first quarter of this year. The operator, which applied for a license in 2008 and won “in principle” government approval last March to start a rival service, has said it can’t give a start date until ASIC’s licensing timeframe is published.The Nomura-owned aspirant will probably get the formal licence tick-off from Financial Services Minister Bill Shorten in April, subject to a succession of m…

market update australia

Weekly market roundupThe Australian share market has ended the week on a high note, driven by gains in the materials sector after a positive lead from Wall Street overshadowed geopolitical concerns in the Middle East.Todays market update –Australia- The dollar slips to $US1.0141- Asian stocks rise on US optimism- Gold hovers below $US1420 an ounce- WTI oil extends gains towards $US103- Dow futures edge 9 points higher to 12,248