ASX 5.90% $77.51 asx limited

News: ASX rival to offer cheaper trades

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    ASX Limited (ASX:ASX), the operator of the Australian Securities Exchange, looks set to face some stiff competition from its rival Chi-X. 



    The rival trading platform is due to open for business at the end of this month and plans to undercut ASX's standard trading fee by around 40 per cent.



    Chi-X’s new pricing structure reveals that it will charge 0.18 per cent per trade, a significant discount to ASX's charge of 0.30 per cent per trade.



    Chi-X Australia's chief operating officer, Peter Fowler, says its pricing structure provides an incentive to post liquidity into the Chi-X order book by charging the provider of liquidity less for each trade.



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


 
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