Confusion About ASX, but Great Expectations From Australian Share Traders for Chi-X
By Cmc Markets, PRNEWednesday, March 23, 2011
Active Australian Share Traders Embrace New Market Entrant
SYDNEY, March 25, 2011 - The third and final section of the CMC Markets
(www.cmcmarkets.com.au) Share Trader Insight Survey: A Look Into What
Drives Today's Share Traders was released today. Part 03, entitled 'Attitudes
regarding the ASX,' focuses on investors' attitudes to the ASX.
Who owns the ASX anyway?
Looking at the ASX itself, it seems that many Australians engaged in
share trading (www.cmcmarkets.com.au/trading-platforms/share-trading)
are not clear on who exactly owns the ASX. Only half are aware that it is a
publicly listed company. A staggering 24% believe the exchange is owned by
the Australian government, and 21% believe a 'member organisation' owns the
ASX, while 5% believe it is owned by an unlisted private enterprise.
Response to Chi-X's entry to the market
It reveals that more than two thirds of Australians who are active share
traders expect their broker to link in with Chi-X. In addition, the majority
of investors informed about Chi-X's entry into Australian markets (55%) would
be willing to change their broker if their broker does not link in with
Chi-X.
"When Chi-X begins operations in Australia, it seems clear that traders
will expect their broker to offer dealing through both them and the ASX. This
is far from surprising, considering there isn't a trader around who doesn't
want the best volume and price available," says David Land, Head of Analysis
and Education at CMC Markets (www.cmcmarkets.com.au).
Recent ASX developments: for or against
We discovered that the positive feeling from traders regarding Chi-X does
not extend towards the SGX merger, with 32% of traders being opposed to the
SGX merger, while 32% remain neutral about the merger.
"It would seem pretty clear that the SGX takeover of ASX has fired up
some emotion about an Australian company getting taken overseas. The numbers
may suggest that some of the objection may be misplaced, with a large chunk
of those surveyed not realising that the ASX is, in fact, a listed company,"
said Mr Land. "It looks like we have a lot more education to do, even among
experienced investors."
For further information and to access the research charts, please visit
www.cmcmarkets.com.au/STIS
About CMC Markets
The CMC Markets Group, a leading independent financial services provider,
offers a range of investment products and investment tools including shares,
options, listed managed investments, warrants, interest rate securities and
Contracts for Difference (CFDs). Through our partnerships we can also provide
access to managed funds and margin lending execution. In 2007 CMC Markets
launched its broking service with the acquisition of Andrew West Stockbroking
and CMC Markets Stockbroking is now one of the only non-bank aligned, online
stockbrokers in Australia. CMC Markets' institutional partner Goldman Sachs
owns a 10% stake in the company.
CMC Markets is a pioneer of CFD trading in Australia and a world leading
CFD provider. With offices in London, Frankfurt, Dublin, Madrid, Vienna,
Sydney, Tokyo, Toronto, Beijing, Auckland, and Singapore, CMC Markets
represents clients in over 70 countries. The company was founded in 1989 and
is regulated by ASIC in Australia. CMC Markets Stockbroking is a participant
of the ASX Group.
www.cmcmarkets.com.au
For more information or additional comments please contact: David Land, CMC Markets, Direct Dial: +61(0)2-8221-2161, Email: D.Land at cmcmarkets.com
Tags: australia, Cmc Markets, March 25, Sydney