Confusion About ASX, but Great Expectations From Aus
Confusion About ASX, but Great Expectations From Australian Share Traders for Chi-X
SYDNEY, Mar. 25, /PRNewswire-AsiaNet/ --
- Active Australian Share Traders Embrace New Market Entrant
The third and final section of the CMC Markets (http://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 (http://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 (http://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 http://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.
http://www.cmcmarkets.com.au
Source:
CMC
Markets