Someone suggested that as shareholders we should encourage companies to threaten the ASX with leaving to the new exchange if they don't take a stand on the bot trading. Reading this I think the new exchange will only make things worse not better.
Looking at whose behind the Chi-X Global Inc and there is no way we will be better off. Chi-Xs backers include Goldman Sachs Group Inc., Merrill Lynch & Co., Citigroup Inc., UBS AG, Credit Suisse Group AG and Morgan Stanley, according to the groups Web site.
Exchanges and platforms want the big institution and hedge funds and to get them they create systems that allow them to trade anonymously with lower transaction costs
-- According to Penganas Schroeders, Chi-X will probably try to make lower prices its key selling point to win support from larger institutions.
---Exchanges worldwide have been building faster systems in response to rising competition from alternative trading platforms that allow fund managers to trade anonymously with lower transaction costs
Don't worry though the ASX is in our corner --
ASX spokesman Matthew Gibbs said The government must ensure regulations are in place to ensure the interests of issuers of capital and long-term and retail investors are not compromised to the primary benefit of the high-frequency trading community,
Hold on haven't they already done that and isn't that one of the ASXs roles already.
