ASIC approves Cboe as ASX competitor
The Australian Securities and Investments Commission (ASIC) has cleared the way for the Australian Securities Exchange to face more competition, by approving Cboe Australia.
The regulator announced today that it had approved Cboe’s listing market application meaning it will be able to list new companies on its platform in direct competition with existing market operators, including the ASX.
It said that as a result, Australian investors will have access to more investment options, initial public offerings and dual listed foreign entities.
Confirming the move, ASIC chair, Joe Longo said Australia’s capital marketrs are strong and resilient but must continue to adapt and evolve.
“This move will provide more choice for companies to list in Australia, build more links to offshore markets and create more options for investors, which is good news for the Australian economy,” he said.
Competition in Australian equities markets to date has resulted in trading costs and access to more investment products, particularly exchange-traded funds (ETFs), which are already available under Cboe’s existing Australian Market licence.
if Peter Johnston had stood back and actually thought about what was happening I dare say he's forgotten that there…
…but, if the adviser joins another dealer group, then its business as usual?
"You will no longer be able to view and manage policies for your existing clients using your adviser log-in (‘a’…
I can provide quality & appropriate advice in about 1 hour with implementation on top.....I can provide "compliant" advice following…
Freaking clown....we're drowning in red tape and you're pushing this @$@$... and blaming advisers.