Chi-X Australia Ltd., the market that is challenging the ASX Group, may have as many as 34 brokers to trade through it.
Chi-X is on the cusp of approving another broker to join its network, says Peter Fowler, chief operating officer of the company in Australia. It currently has 23 brokers signed up to do business with the company, he says.
“We’ll hold at 24 for the time being,” says Fowler. There are another 10 applications from brokers who wish to work with Chi-X, he says.
Fowler says Chi-X “is very happy with its Australian launch. He says trading through Chi-X is “regularly in excess of 1 per cent” of daily turnover of Australian stocks.
“We’re trading a large range of securities,” says Fowler. “The feedback has been positive.”