Chi-X Australia expands stock market offering
Stock exchange Chi-X Australia is to expand its offering with a quoted funds market and five Transferable Custody Receipts (TraCRs) based on the underlying shares of global companies such as Amazon and Berkshire Hathaway.
The five TraCRs would join the 10 existing ones already trading on Chi-X Australia which were added last October. TraCRs are issued by Deutsche Access Investments and traded in Australian dollars.
Vic Jokovic, chief executive of Chi-X Australia, said: “Expanding the range of TraCRs demonstrates our commitment to delivering greater accessibility and choice to local investors and brokers.”
Meanwhile, it would also launch a quoted funds market with fixed-income quoted managed funds, also known as active exchange traded funds (ETFs), from companies such as eInvest and Schroders. The launch date of this market is subject to regulatory approvals.
Jokovic added: “The arrival of Chi-X Quoted Funds marks a significant expansion of our capabilities and will enable issuers to have their QMFs and ETFs quoted and traded on Chi-X Australia, providing both issuers and investors with greater choice and cost benefits.”
AUTHOR
Laura Dew
Recommended for you
Iress has announced it will divest its superannuation business as the latest step in its transformation program, allowing it to focus on wealth management.
The corporate regulator has named its new chief executive, who is set to replace retiring interim CEO Greg Yanco in March.
Following the departure of its chief marketing officer last year, AMP has appointed a successor to take up the position with the appointment coming from the US.
The Financial Services Council has appointed Justine Earl-Smith as executive director for commercial partnerships and growth, a newly created role for the organisation.
