News: ASX rival Chi X starts trading today

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    The owner of the Australian Securities Exchange, ASX Limited (ASX:ASX), will lose its monopoly in Australia today when rival trading platform Chi-X opens for trading.



    Chi-X Australia is a subsidiary of Chi-X Global Inc owned by a subsidiary of Japanese investment bank Nomura Holdings.



    The soft launch period will see trading in eight securities this week including BHP Billiton Limited (ASX:BHP), Leighton Holdings Limited (ASX:LEI), Origin Energy Limited (ASX:ORG), QBE Insurance Group Limited (ASX:QBE) and Woolworths Limited (ASX:WOW).



    Reports emerged last month that Chi-X plans to undercut ASX's standard trading fee by about 40 per cent.



    The launch comes less than one week after ASX was hit with a technical glitch that froze four hours of trade.



    In the 2011 financial year ASX posted a net profit of $352 million.  

 
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