Investment Strategy

ASX clearing monopoly: who benefits?

The ASX is greatly changed in recent times. Now it is a public company listed on its own exchange and is no longer the regulator of the country’s equity and derivative markets. One little monopoly it is likely to hang on to for a while yet is that of clearing, with the decision from the […]
Investment Strategy

New operations chief at Chi-X

Alternative execution platform Chi-X Australia has recruited a former London Stock Exchange executive, Jamie Crank, as head of market operations. Crank, who was most recently head of commercial management, equity and derivatives markets, at the LSE comes to the position only weeks after the inaugural chief of Chi-X Australia, Peter Fowler, announced he was standing […]
Hedge Funds

ISN: moratorium on high frequency trading

The Industry Super Network (ISN) has called for a moratorium on high frequency trading (HFT) in Australian markets because of the potential negative impact on long-term investors. Zachary May, ISN director of regulatory policy, says HFT is on the rise in Australia and already accounts for the majority of trading in the United States. The […]
Investment Strategy

ASIC concerned by dark pool, HFT trading

The Australian Securities Investment Commission is concerned that so-called dark pool and high frequency trading may damage price discovery or lead to market crashes. Belinda Gibson, ASIC’s deputy chair, says high frequency trading could lead to abuses and market disruption. High frequency traders use mathematical formulas to trade millions of stocks within seconds to take […]
Investment Strategy

Liquidnet dark pool fills up

After a record February, Liquidnet, the so-called dark-pool trading network for asset managers, will soon have as many as 58 Australian funds as customers. Liquidnet says investors seem to be putting more money in stocks, helping to underpin the prospects of further record volumes for the company during the rest of the year. In February […]
Investment Strategy

The man brokers, asset managers must thank

James Spenceley may be the most important man in asset management and stockbroking in Australia many have never heard of. Spenceley’s Vocus Communications has laid 140 kilometres of fibre optic in Brisbane, Melbourne and Sydney. Some of it is in Sydney links the finance community with Chi-X Australia Ltd. and ASX Group’s Gore Hill data […]