The corporate regulator has given stockbrokers three months to show they are ready to trade via Chi-X in a damning final report on the stock exchange outage of last November which will increase competition for the dominant stock trading platform.
A large broker said the Australian Securities and Investments Commission had put big players on notice to invest in technology upgrades that will allow them to trade larger volumes via Chi-X to make it a more viable alternative to ASX Ltd in the event of a future outage.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
