I believe the average trade on the ASX is c. 80% lower than it...

I believe the average trade on the ASX is c. 80% lower than it was in 2005 and we'll all be algo trading soon enough.

"Our aim is to provide traders and investors with more efficient markets through the introduction of low-cost, high-speed alternative execution venues. We believe that through the introduction of competition markets will become more attractive to the international investment community, ultimately helping to increase overall market liquidity and improve investment performance.

In both Canada and Europe the introduction of competition among markets has seen bid-offer spreads tighten, explicit trading costs reduce and overall market turnover increase. Increased liquidity, more efficient markets and related price improvements deliver better trading outcomes; these are just some of the benefits experienced by traders and investors alike.

The journey to drive change and launch a new financial market requires foresight and patience, as well as a commitment to value creation. Chi-X has a track record of delivering successful outcomes and remains committed to enhancing Australia's financial markets."

http://www.chi-x.asia/apac/au/